NEXT THRIVES WITH ONLINE SALES

Has there ever been a clearer indication of the success of online shopping than with the growth of UK fashion retailer Next?

The company is sticking with its full-year profit forecast even though it has suffered a fall in sales at its high street business. That’s because this slump has been offset by the growth of its home shopping business.

Success story

The Next online business is a true success story. Despite running more than 500 stores across Britain and Ireland, Next saw high street sales drop by 3.3 per cent. However, its total sales rose at an annual 3.3 per cent rate over the last three months thanks to the growth of Next Directory – which increased it sales by a whopping 16.9 per cent.

As a result the company has announced that margins and costs are in line with expectations and it is maintaining its sales and profit guidance for the full year. This is in spite of the fact that many retailers are struggling as shoppers’ disposable incomes are squeezed by rising prices, subdued wages growth and a lack of credit.

Next has even gone as far as to suggest it is confident there will be no further increase in selling prices during the first half of the 2012/13 fiscal year.

Sales galore

With Christmas approaching, Next Ireland is keen to attract even more business and as a result is offering a number of new exciting deals and offers through 5hop5.ie. Here is a selection of the current deals:

-      Beautiful home accessories from €13 (offer expires November 19, 2011).

-      Ladies scarves from €11 (offer expires December 9, 2011).

-      Beautiful leather bags from €30 (offer expires December 29, 2011).