High street retailer Next has revealed its online shopping has grounded to a halt, whilst in-store retail has had a “renaissance”.
As retail sales recovered from the Covid-19 pandemic, online growth reverted back to its longer term trajectory, the retailer said.
As a result, sales performance exceeded expectations by £50 million, resulting in a raise of its profit guidance to £860 million, an increase of £10 million.
In the second quarter to 30 July, full price sales were up 5% compared to the same period last year, and leapt 23.8% higher compared to 2019, before the pandemic struck.
