Business Insight
Next
All eyes are on Next, with the high street bellwether the first major retailer to reveal its Christmas performance, writes Hannah Uttley.
The FTSE 100 retailer will publish its trading update on Friday for the festive period, a crucial time for retailers battling online rivals for customers. The total of shoppers on high streets for Boxing Day sales suffered its biggest fall in almost a decade as people did their shopping online instead.
According to Springboard, high street, shopping centre and retail park visits fell 10.6pc by noon on Dec 26 compared with a year earlier. Visitor numbers improved slightly by the end of the day but were still 8.6pc lower.
Next traces its roots back to 1864 and a men’s tailor in Leeds. The retailer, which is headed by Lord Wolfson of Aspley Guise, has grown to span more than 500 stores in the UK with around 200 overseas. Next cheered investors in 2018 when it delivered a 1.5pc jump in full-price sales during the Christmas period.
The chain was bolstered by its online business, which offset a decline in sales at its stores.
Shares were 2.2pc higher at 7270p when markets closed on Friday.