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Next retailer to issue profit warning sending a chill around the city |
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#26 |
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Location: Leafy London
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But the FTSE has reached a record high.
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I have never set foot in a Next outlet and don't know anyone who has. That says more about you and your circle than the millions who do shop at Next. I thought remainers were the ones who were out of touch.....
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#27 |
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Join Date: Jun 2003
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Is this a serious question? Do you really not understand the impact of the plummeting pound following Brexit vote on Business.
I do know that in periods of uncertainty currencies do badly and then recover. The impact of a weaker Sterling is certainly continuing to play a positive role for UK industry with it being reported that new export business rose for the seventh successive month in December. British companies reported increased levels of new work from the USA, Europe, China, Middle East, India and other Asian markets. "This growth in new order inflows was the strongest in two-and-a-half years. In response, employment levels gathered pace at the fastest rate for 14 months, where SMEs saw the biggest rises in staffing," says David Noble, Group CEO at the CIPS.. https://www.poundsterlinglive.com/gb...mis-in-january |
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#28 |
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Join Date: Jul 2002
Location: a land filled with trolls
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The first taste of 2017.
The false glee of 2016 will be wiped off the smirking Brexit faces very quickly. We're in for a horrible time. Already I'm reading comments about the possibility of a return to high roaming charges in Europe as being no bad thing, because when you're on holiday you shouldn't be using your phone anyway. So everything bad that happens now which can be linked to Brexit is being treated as not a big deal. |
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#29 |
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But someone has to pay and make up for that loss, and it's not going to be the executives.
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That is £25M they may well not be investing in refurbishing, expansion, new stores, more staff.
That's a 3% contraction - any idea what the result of an equivalent contraction in the economy produces? Usual numbskull attitude - it's like banging one's head against a brick wall. Quote:
I don't think you understand quite how things like this affect the economy as a whole.
did you read the article? |
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#30 |
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Join Date: Mar 2003
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it's an upper end forecast.
it's an upper end forecast. read the article, before frothing at the mouth and clutching your pearls. it's an upper end forecast. did you read the article? |
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#31 |
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But someone has to pay and make up for that loss, and it's not going to be the executives.
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#32 |
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And we know full well why that is. It has been reported repeatedly. It has no bearing on the health of the UK economy whatsoever - purely inflated £ profits by large companies trading in $. Measured in USD, the FTSE is 5% lower than it was before the Brexit vote.
That says more about you and your circle than the millions who do shop at Next. I thought remainers were the ones who were out of touch..... My circle? How silly. |
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#33 |
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Join Date: Sep 2003
Location: Devon
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Sales down 0.4% in the run up to Xmas and the annual profit forecast has been revised to £792m which is at the lower end of the previous guidance issued by Next of £785m-£825m. Hardly a disaster except for some of our resident Bremainers.
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#34 |
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Persisting in calling people names is rather childish.
My circle? How silly. I would respectfully suggest that the reason you have never done so is because Next caters for a younger demographic than yourself. Or are you and your young trendy cohorts more discerning and patronise The Kooples or the Diesel shop? I actually did buy a sweater and 3 shirts from Next between Christmas and New Year (and am a good deal older than most of their clientele seeing as I refuse to grow old gracefully!) and it was noticeable how few people were in there - and in general - in Westfield. No queues anywhere - not even outside the Hollister shop, which much be a first. |
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#35 |
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Join Date: Jul 2010
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Not something the city wants to hear. Next retailer to issue profit warning of 14%.
Sterling troubles playing a big part and household inflation playing its part too. CEO calling for no hard Brexit. This is another warning to the May administration. https://www.google.ie/url?sa=t&sourc...GW_k38PRhtU-xw
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#36 |
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Join Date: Apr 2011
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So if they have reduced their forecast then this will affect forward planning for spending on store refurbishments, new stores etc which will have a knock on effect to the companies that do the work for them
unless those profits are going somewhere else. ![]() https://www.theguardian.com/business...misses-targets |
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#37 |
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Lord Woflson CEO of Next, sounds like an expert, what does he know. Democracy Democracy Democracy.
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#38 |
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Join Date: Mar 2015
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Not something the city wants to hear. Next retailer to issue profit warning of 14%.
Sterling troubles playing a big part and household inflation playing its part too. CEO calling for no hard Brexit. This is another warning to the May administration. https://www.google.ie/url?sa=t&sourc...GW_k38PRhtU-xw OUTLOOK FOR THE YEAR AHEAD The fact that sales continued to decline in quarter four, beyond the anniversary of the start of the slowdown in November 2015, means that we expect the cyclical slow-down in spending on clothing and footwear to continue into next year. In addition to this effect, there are two further factors which may depress sales: We may see a further squeeze in general spending as inflation begins to erode real earnings growth. As previously indicated, following the devaluation of the Pound, we expect prices on like-for like garments to rise, but by no more than 5%. We expect that this will depress sales revenue by around 0.5%. Overseas sales will be boosted by the devaluation of the Pound which means that we expect total reported full price sales to be around +1% better than the constant currency numbers detailed above In the year ahead we face a number of inflationary pressures in our cost base. The National Living Wage, the national business rates revaluation, Apprenticeship Levy and energy taxes will add around £13m to our cost base. General inflation in wages and other non-product costs look set to increase by an additional £6m. In addition we intend to add around £10m to our cost base in order to improve our website systems and online marketing. |
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#39 |
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Indeed, and what will happen is that the Brexit zealots on here will either "disappear", register with a new username or blame anyone and everyone but themselves for what happens.
Who I do blame is David Cameron for playing party politics with a serious issue such as this for his own personal gain despite knowing what would happen should we leave. His own arrogance is what has led us here and he didn't even have the balls to stick it out. He ran away to hide like a little child. If Bremainers what to blame anyone that's your man. |
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#40 |
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If Bremainers what to blame anyone that's your man. Doesn't let the idiot politicians who ran the Leave campaign, and the gullible who fell for it, off the hook one bit. |
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#41 |
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Join Date: Oct 2004
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I feel sorry for the Next rank and file staff whose jobs will look slightly less certain.
But I can't help but smile with glee that their pro-Brexit CEO now has to feel some of the repercussions of his moronic views |
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#42 |
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Can someone point out where this all down to brexit which of course has not happened yet?
Seems to be a case of when any retailer struggles people will blame brexit? |
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#43 |
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Join Date: Nov 2007
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I feel sorry for the Next rank and file staff whose jobs will look slightly less certain.
But I can't help but smile with glee that their pro-Brexit CEO now has to feel some of the repercussions of his moronic views |
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#44 |
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Join Date: Apr 2009
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Your having a laugh. Jobs uncertain because only making £800 million profit. Give over.
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#45 |
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Join Date: Oct 2004
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Your having a laugh. Jobs uncertain because only making £800 million profit. Give over.
(and I was a person who had considerably more staying power than the average retail employee) |
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#46 |
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If business and profits down, there will be less staff. It's how business works. Something Brexiters are going to learn the hard way.
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#47 |
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Join Date: Nov 2007
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According to Next trading statement
OUTLOOK FOR THE YEAR AHEAD The fact that sales continued to decline in quarter four, beyond the anniversary of the start of the slowdown in November 2015, means that we expect the cyclical slow-down in spending on clothing and footwear to continue into next year. In addition to this effect, there are two further factors which may depress sales: We may see a further squeeze in general spending as inflation begins to erode real earnings growth. As previously indicated, following the devaluation of the Pound, we expect prices on like-for like garments to rise, but by no more than 5%. We expect that this will depress sales revenue by around 0.5%. Overseas sales will be boosted by the devaluation of the Pound which means that we expect total reported full price sales to be around +1% better than the constant currency numbers detailed above In the year ahead we face a number of inflationary pressures in our cost base. The National Living Wage, the national business rates revaluation, Apprenticeship Levy and energy taxes will add around £13m to our cost base. General inflation in wages and other non-product costs look set to increase by an additional £6m. In addition we intend to add around £10m to our cost base in order to improve our website systems and online marketing. |
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#48 |
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Join Date: Nov 2009
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When I traipsed round the shops before Christmas - Next was practically empty, whereas shops like Zara, Mango and H&M were packed. I've no idea why, because Next clothes weren't more expensive than in the other shops. Maybe the designs are better in the other shops?
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#49 |
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Speaking as someone who was made redundant from a megacorp, due to a mass layoff that was started because we only made 95% of the profit we made the year before, which was still in the billions of dollars... no thanks
(and I was a person who had considerably more staying power than the average retail employee) |
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#50 |
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But they have not said they will cut jobs. I too have been made redundant from large companies. It happens for various reasons but not in this case.
But I did originally say "slightly less certain", meaning that there may not be job losses, it just makes it a bit more likely. |
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