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Next retailer to issue profit warning sending a chill around the city


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Old 04-01-2017, 12:02
Jayceef1
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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?
It's because they wait for the "Next Sales".
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Old 04-01-2017, 12:03
Paris Le Roc
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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?
Same. While I would love to lay this at the door of Brexit I think its more down to greed on behalf of Next itself.

You can buy basically identical clothes to those in Next at Matalan for half the price. Its Next to blame for its losses here no one else.
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Old 04-01-2017, 12:05
IvanIV
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Shush don't say this - we keep being told having a slumped Sterling is wonderful for our economy!

It's amazing that every other country doesn't seem to want to crash their currency considering its the pathway to economic boom.
It's good for recovering economies going through reforms, it makes them more competitive abroad, while people have to suffer consequences of more expensive imports. UK economy is still the same as before Brexit was announced, so it's really nothing to brag about. I would think that a country with a history like UK would not fall for this sovereignty BS. I think in 21st century a general well being of citizens is more important, it's not like UK was an EU slave, everywhere you looked there was a UK exception.
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Old 04-01-2017, 12:06
Mark_Jones9
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So the fall in Sterling will depress sales by 0.5% in the UK but will boost overseas sales to give an overall benefit of 1%. Therefore NONE of this forecasted fall in profit is down to Brexit but the other items on the list such as the National Living Wage taxes and the 40% of the forecast reduction on upgrading their website system.
They do not make enough overseas sales. Which maybe why they are updating their internet presence.

Year to 24th December 2016
Full price sales
NEXT Directory’s year to date growth of +3.6%, (NEXT UK including Label was up +1.4% and Overseas was up +18% on last year).
NEXT Retail stores -4.3% on last year
NEXT directory + retail stores -0.4%

The main problem appears to be the cyclical downturn in clothing sales that started in November 2015 and is still ongoing.
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Old 04-01-2017, 12:15
trunkster
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Not going to happen. Brexit supporters have a coping mechanism that means they'll argue we didn't need a company like Next anyway and continue to say how there's no connection and all will be well.

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.

Oh no, Increased roaming charges will mean the end civilization as we know it
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Old 04-01-2017, 12:18
moox
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Oh no, Increased roaming charges will mean the end civilization as we know it
Don't be so hysterical. "Calm down dear".

The point is that we are regressing in many ways - from the most significant (single market) to the least (roaming charges), with those regressions being waved away by the regressives (brexiters). It's fine that we are all going pay more because we've "took are cuntry bak".
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Old 04-01-2017, 12:24
trunkster
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Don't be so hysterical. "Calm down dear".

The point is that we are regressing in many ways - from the most significant (single market) to the least (roaming charges), with those regressions being waved away by the regressives (brexiters). It's fine that we are all going pay more because we've "took are cuntry bak".
Oh dear, some of your keys don't appear to be working.

How does it go now..

Good news re the economy - It's because we haven't left yet
Someone issues the first profit warning ever in the history of these islands - It's all because of Brexit.

Will you lot make your minds up
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Old 04-01-2017, 12:24
Hilary22cat
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A few years ago, M+S started to see sales in their clothing range plummet. Was this because of Brexit/falling pound? No.

It was because their designs were rubbish, the quality diminishing and the price too high. People who used to shop there moved on elsewhere, some to Next.

Now Next are suffering the same problem - see above. I usually spend a lot of money in there for Christmas, for presents for myself and adult family. This year I went in there and saw absolutely nothing at all I wanted to buy, either for myself or them. It was all rather downmarket and limited.

So, no. Many things can be blamed on Brexit perhaps, but Next only have themselves to blame. Just perhaps they became complacent like Marks did in the past.
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Old 04-01-2017, 12:25
James_Orton
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Didn't B&M release their figures for Xmas today? How are they doing in comparison.

It would seem there are many people taking a single retailer and then extrapolating the entire sector from it.

It's similar to failed businesses being a yard stick for other businesses,when sometimes it's just bad management.
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Old 04-01-2017, 12:29
omnidirectional
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The point is that we are regressing in many ways - from the most significant (single market) to the least (roaming charges), with those regressions being waved away by the regressives (brexiters). It's fine that we are all going pay more because we've "took are cuntry bak".
Who needs that evil dictatorship in Brussels forcing mobile networks to charge only 4p per megabyte when roaming? When we get our country back, we can be charged £6.99/MB like Isle of Man customers pay! Lots of lovely profit for those poor impoverished mobile companies.
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Old 04-01-2017, 13:00
Granny McSmith
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Not going to happen. Brexit supporters have a coping mechanism that means they'll argue we didn't need a company like Next anyway and continue to say how there's no connection and all will be well.

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.
I don't think it was "Shouldn't use your phone", just "It's your choice to use your phone". A novel concept for some, seemingly.

That thread about roaming charges is quite amusing. Every time someone suggested a way round paying charges, (change sims) the remainers sulked and said they can't do that, it's too hard.
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Old 04-01-2017, 13:01
Slojo
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Didn't B&M release their figures for Xmas today? How are they doing in comparison.

It would seem there are many people taking a single retailer and then extrapolating the entire sector from it.

It's similar to failed businesses being a yard stick for other businesses,when sometimes it's just bad management.
They did very well. Maybe Next need to take a look at how they do it

B&M said like-for-like sales rose 7.2% in the three months to December 24, while revenue rose more than a fifth to £789.1m.
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Old 04-01-2017, 13:04
Granny McSmith
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A few years ago, M+S started to see sales in their clothing range plummet. Was this because of Brexit/falling pound? No.

It was because their designs were rubbish, the quality diminishing and the price too high. People who used to shop there moved on elsewhere, some to Next.

Now Next are suffering the same problem - see above. I usually spend a lot of money in there for Christmas, for presents for myself and adult family. This year I went in there and saw absolutely nothing at all I wanted to buy, either for myself or them. It was all rather downmarket and limited.

So, no. Many things can be blamed on Brexit perhaps, but Next only have themselves to blame. Just perhaps they became complacent like Marks did in the past.
Agreed. I usually buy some things from Next for my granddaughters for Christmas, but I couldn't find anything I liked this year, so didn't. I went to Asda instead.

I thought it was just me being over critical, but maybe not.
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Old 04-01-2017, 13:07
jcafcw
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Why did Woolworths and BHS fail? Were there different reasons for their failure than those of Next?
My mum worked for Woolworths. They went down the tubes because they stopped selling what worked for them: sweets, crockery and school clothes etc. and went big into electronics and entertainment when the market was falling out for them. What made it worse for them they didn't have the items such as TVs in stock and customers were told they had to wait for the tvs to be ordered. They went elsewhere.

Wilkinsons are doing what Woolworths did before they fatally changed and are doing well. The director who instigated the fatal error got a golden handshake whilst the employees lost their redundancies and part of their pensions.
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Old 04-01-2017, 13:07
moox
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I don't think it was "Shouldn't use your phone", just "It's your choice to use your phone". A novel concept for some, seemingly.

That thread about roaming charges is quite amusing. Every time someone suggested a way round paying charges, (change sims) the remainers sulked and said they can't do that, it's too hard.
No, it's not too hard, but it's a pointless example of using a heath-robinson-esque bodge to get around something that should not exist.

It's also rather impractical.

You're literally cheering on the fact that the mobile operators are going to rip you off. Gullibility at its finest.
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Old 04-01-2017, 13:14
Granny McSmith
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No, it's not too hard, but it's a pointless example of using a heath-robinson-esque bodge to get around something that should not exist.

It's also rather impractical.

You're literally cheering on the fact that the mobile operators are going to rip you off. Gullibility at its finest.
Lots of things shouldn't exist, but do.

If your phone charges are the most important thing in your life, then I suggest you are a very lucky person. Enjoy it while you can.

(Granny's life advice for the day ).
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Old 04-01-2017, 13:19
voteout
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What nonsense. Next are one of the sharpest operators on the block. One of very, very few who were in favour of Brexit, ironically.
If they were pro-Brexit, why should anyone care that they're hoist by their own petard?
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Old 04-01-2017, 13:23
Granny McSmith
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They did very well. Maybe Next need to take a look at how they do it

B&M said like-for-like sales rose 7.2% in the three months to December 24, while revenue rose more than a fifth to £789.1m.
Why has no one started a thread on this?

Oh, of course; magically, it won't count because we've not had Brexit yet.
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Old 04-01-2017, 13:30
andykn
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A few years ago, M+S started to see sales in their clothing range plummet. Was this because of Brexit/falling pound? No.

It was because their designs were rubbish, the quality diminishing and the price too high. People who used to shop there moved on elsewhere, some to Next.

Now Next are suffering the same problem - see above. I usually spend a lot of money in there for Christmas, for presents for myself and adult family. This year I went in there and saw absolutely nothing at all I wanted to buy, either for myself or them. It was all rather downmarket and limited.

So, no. Many things can be blamed on Brexit perhaps, but Next only have themselves to blame. Just perhaps they became complacent like Marks did in the past.
Where do you shop instead?
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Old 04-01-2017, 13:51
trevgo
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Why has no one started a thread on this?

Oh, of course; magically, it won't count because we've not had Brexit yet.
Why don't you?

I'll even give you the title.

"Downmarket retailers see growth as impoverished public shuns quality"

I expect Wetherspoons will do well out of our loss of prosperity, which is why that carrot cruncher was so pro Brexit.
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Old 04-01-2017, 14:26
bluewomble88
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BHS and Woolworth were outdated businesses that did not keep up with trends and demands.

Next is anything but.

Wait until the rest of the retailers have reported - I predict they'll have had very poor Christmases. Next may well have done better than most. With unavoidable price rises about to hit, things can only get worse.
Next isn't outdated? Mwahahahahaha. It's ATROCIOUSLY BAD to say the least. I used to get all my clothes in there about 10 years ago - these days it's Matalan quality at three-times the price. I got a leather wallet in there about 3 years ago for £25 and it fell to bits within a year. These days I take my business elsewhere and I expect many other people have done the same.

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?
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?
Exactly this. The products in Next are nasty compared to a decade ago. Cheap quality, boring designs, and way overpriced. I saw a retro MARVEL T-Shirt in there about 4 or 5 years ago and I decided to buy it. They I saw the price tag, put it back on the rail, and walked out.
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Old 04-01-2017, 14:28
bluewomble88
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Where do you shop instead?
Why is that relevant?

Where someone shops doesn't change the fact that Next's product range is vastly inferior to a decade ago. For the same money I can get more in Gap than I can in Next, and it's better quality.
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Old 04-01-2017, 14:33
Granny McSmith
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Why don't you?

I'll even give you the title.

"Downmarket retailers see growth as impoverished public shuns quality"

I expect Wetherspoons will do well out of our loss of prosperity, which is why that carrot cruncher was so pro Brexit.
There is one. It's being ignored at the moment.
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Old 04-01-2017, 14:34
bluewomble88
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Prediction: whenever a retailer falls on hard times, the Remoaners will blame Brexit.

Jessops, Allied carpets, Mosaic, Land of Leather, Zavvi, Woolworths, The Officers Club, MFI - all experienced difficulties when we voted to leave the EU. Right? Riiiiigghht?

This place is hilarious
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Old 04-01-2017, 14:37
moox
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Prediction: whenever a retailer falls on hard times, the Remoaners will blame Brexit.

Jessops, Allied carpets, Mosaic, Land of Leather, Zavvi, Woolworths, The Officers Club, MFI - all experienced difficulties when we voted to leave the EU. Right? Riiiiigghht?

This place is hilarious
Well... no. Because they didn't go bust after the referendum, due to issues caused by our decision to leave.

Pretty obvious if you think about it.
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