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Bloomberg
Next Plc shares surged after the company raised its financial guidance, helped by e-commerce investments that are keeping the UK retail bellwether ahead of troubled rivals.
The apparel chain’s warehouse and distribution upgrades are boosting online sales, which rose 12 percent in the latest quarter, even as British department stores and other fashion chains sink deeper into trouble.
The company said sales at regular prices were particularly strong in July, meaning it had to do less discounting.
Next plans fewer markdowns in the second half as well.
Next continues to be a bright spot in the weak UK retail sector, as Topshop owner Arcadia Group Ltd shuts stores and Brexit uncertainty hits consumer confidence.
While other retailers decried a soggy spring and tough comparisons after the soccer World Cup and a royal wedding boosted sales a year earlier, Next had no complaints.