Next Raises Profit Forecast Again After Strong Christmas Sales [Yahoo! Finance]
MARKS & SPENCER GRP S/ADR (MAKSY)
NASDAQ:AMEX Investor Relations:
markspizzeria.com
Company Research
Source: Yahoo! Finance
stronger-than-expected Christmas trading period lifted sales momentum. In a trading update released Tuesday, the British fashion and homeware retailer said it now expects pretax profit of 1.15 billion for the year ending Jan. 31, up from 1.14 billion guided in October. Full-price sales rose 10.6% in the nine weeks to Dec. 27, putting performance on track to exceed the company's prior expectations for the quarter and reinforcing Next's position as a key read-through for UK retail demand. Warning! GuruFocus has detected 5 Warning Signs with AMD. Is NXGPY fairly valued? Test your thesis with our free DCF calculator. The latest upgrade follows a year of repeated guidance increases, despite earlier caution from Chief Executive Officer Simon Wolfson, who had previously pointed to higher employment costs and concerns over the UK economic backdrop. Sales growth was recorded both domestically and overseas, suggesting trading conditions have held up better than management initially antici
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News
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