UK fashion retailer Next has reported strong annual before tax profit growth of 19.3% to £324.2m. The retailers’ CEO attributed this result to “an improving economy, low interest rates, increasing availability of credit, less general discounting on the high street and much better weather this summer.”
Next is clearly doing something right and even by the standards of a company this size, this is a handsome result. Interestingly, the retailer reported that it’s instore growth was significant compared to it’s online activity, which goes to show that every retailer can capitalise on the consumers coming through the doors of their physical stores.
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Aaron Blackman is the CEO of SkyStreet Retail. Follow Aaron on Google+