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Next looks ahead to a better 2012 for the retail sector
As Next talks of a positive outlook for 2012, Graham Spooner, investment adviser at The Share Centre, explains what this means for investors.
“This morning, Next announced an 8.5% increase in profits for the first half of year as Next Directory and online sales rose to £486.7m – an increase of 15.1%. This increase offset a fall in store sales of 1.8%.
“What is encouraging for investors is that the retailer, who is usually cautious in its outlook, is slightly more upbeat than the rest of the sector regarding the state of the retail market for 2012. Next is confident that inflationary pressures will ease as commodity prices stabilise and as it has negotiated some of its prices for 2012 with suppliers already, feel there will be little inflation in its prices in store.
“Next is highly regarded by analysts as it has good cost controls, online sales growth, the prospect of share buybacks and a strong fashion range. However, despite Next’s confidence that the difficulties facing retailers are set to improve, we still have concerns over consumer spending and recommend investors stay on the side lines for the time being.”
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THIS DATA IS PROVIDED BY GRAHAM SPOONER, INVESTMENT ADVISER AT THE SHARE CENTRE. THIS IS NOT INTENDED TO CONSTITUTE AN OFFER OR AGREEMENT TO BUY OR SELL INVESTMENTS.
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Back2011-09-14 17:00:20 © Moneyextra.com