rollover Posted January 4, 2017 Share Posted January 4, 2017 Quote Next has warned that this year will be "challenging" as it reported a fall in sales in the run-up to Christmas. The retailer said full-price sales fell by 0.4% in the 54 days to 24 December, with annual profits now set to be at the low end of expectations. Next said sales in 2017 could be hit as rising inflation erodes earnings growth and squeezes consumer spending. Next shares fell by 12% at the start of trading in London.BBC I would like to see numbers from other retailers who start Sale weeks before Christmas Quote Link to comment Share on other sites More sharing options...
canbuywontbuy Posted January 4, 2017 Share Posted January 4, 2017 A fall of 0.4% is newsworthy? Quote Link to comment Share on other sites More sharing options...
rollover Posted January 4, 2017 Author Share Posted January 4, 2017 3 minutes ago, canbuywontbuy said: A fall of 0.4% is newsworthy? It must be more to it if the next shares fell by 12%. Quote Link to comment Share on other sites More sharing options...
thewig Posted January 4, 2017 Share Posted January 4, 2017 13 minutes ago, rollover said: It must be more to it if the next shares fell by 12%. Some sort of f*cked up leverage play? Quote Link to comment Share on other sites More sharing options...
Bugger BTL Posted January 4, 2017 Share Posted January 4, 2017 I have never understood the attraction of the Next Christmas sales. Always looks like one of the circles of Hades, from the reports. Quote Link to comment Share on other sites More sharing options...
thewig Posted January 4, 2017 Share Posted January 4, 2017 (edited) 8 minutes ago, Bugger BTL said: I have never understood the attraction of the Next, Christmas, or sales. Always looks like one of the circles of Hades, from the reports. fixed Edited January 4, 2017 by thewig Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted January 4, 2017 Share Posted January 4, 2017 Wonder which big retailers will fail this year. Wont be next this year though, maybe next. Quote Link to comment Share on other sites More sharing options...
thewig Posted January 4, 2017 Share Posted January 4, 2017 For next, next year has come early this year. Quote Link to comment Share on other sites More sharing options...
Sour Mash Posted January 4, 2017 Share Posted January 4, 2017 Interesting that normally we get predictions of "Doom and gloom for retail" in the media before Xmas - followed by record sales figures afterwards. This year, we didn't seem to get any of the "The sky is falling on high street sales" stories before the holiday but now we are actually seeing some poor figures afterwards. I wonder is Next just an exception or are we going to see this trend repeated? Could the public's love affair with borrowing huge amounts of cash to spend on tat be coming slowly to an end? Quote Link to comment Share on other sites More sharing options...
canbuywontbuy Posted January 4, 2017 Share Posted January 4, 2017 So if sales were up 0.4%, they would consider it a boom in sales? Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted January 4, 2017 Share Posted January 4, 2017 Check out their share price graph...been falling in line with London house prices Quote Link to comment Share on other sites More sharing options...
nnails Posted January 4, 2017 Share Posted January 4, 2017 My sister use to work at next. She told they use to ship in crappie for sales. Horrible place to work to Quote Link to comment Share on other sites More sharing options...
SirGaz Posted January 4, 2017 Share Posted January 4, 2017 Next has lost the plot, most of the stuff I have bought there in the last two years has had to go back. The quality has been abysmal, and the variance in size between two identically spec'ed pairs of jeans was several inches. I have even had a pair of jeans with two different inside leg measurements, the left leg was at least an inch and a half shorter. Its just a warehouse for cheaply manufactured Chinese junk (at English prices). Quote Link to comment Share on other sites More sharing options...
btl_hater Posted January 4, 2017 Share Posted January 4, 2017 It's the NEXT sales that get me. I'm almost certain that 99% of the people who buy thees sale items get less wear out of them than if they had spent the same amount (or less) on a single item of quality clothing at full price from somewhere else that is actually good quality and fit. Quote Link to comment Share on other sites More sharing options...
zugzwang Posted January 4, 2017 Share Posted January 4, 2017 It's fair to say that Next's Lord Wolfson has been the architect of his own misfortune. Not only is he a prominent and vocal supporter of Brexit, he was also a member of Gidiot's so-called Treasury Team from 2010 onward where he met his 'frightfully well-connected' future wife Eleanor Shawcross, grand-daughter of Nuremberg prosecutor Lord Shawcross, management consultant and co-author of Boris Johnson's winning mayoral election manifesto. Baron Wolfson of Aspley Guise was quoted in 2015 expressing the belief that a wage of £6.70/hr was sufficient for 'many to live on' while drawing a basic salary less bonuses of £729,000. Quote Link to comment Share on other sites More sharing options...
Democorruptcy Posted January 4, 2017 Share Posted January 4, 2017 1 hour ago, zugzwang said: It's fair to say that Next's Lord Wolfson has been the architect of his own misfortune. Not only is he a prominent and vocal supporter of Brexit, he was also a member of Gidiot's so-called Treasury Team from 2010 onward where he met his 'frightfully well-connected' future wife Eleanor Shawcross, grand-daughter of Nuremberg prosecutor Lord Shawcross, management consultant and co-author of Boris Johnson's winning mayoral election manifesto. Baron Wolfson of Aspley Guise was quoted in 2015 expressing the belief that a wage of £6.70/hr was sufficient for 'many to live on' while drawing a basic salary less bonuses of £729,000. Base salary is a minor detail. The real money for CEO's is the bonus and share options. There was some kerfuffle about executives earning £1m, so they kept base salaries lower than that but increased the base salary multipliers for bonuses and shares. Typically their share performance is measured against a hand picked group of other companies, not the FTSE as a whole. So including some "dogs" reaps bonuses. In the 2016 Next Annual report Wolfson's basic £751,000 but total remuneration £4,660,000 Page 60: http://www.nextplc.co.uk/~/media/Files/N/Next-PLC-V2/documents/reports-and-presentations/2016/NEXT-Annual report Web FINAL.pdf Quote Link to comment Share on other sites More sharing options...
durhamborn Posted January 4, 2017 Share Posted January 4, 2017 Id say Next are the best ran retailer of the lot.No net debt on the balance sheet (if you count the directory debts from consumers as assets) and churn out free cash flow.Looking at the balance sheet now it looks like at the top of the cycle (last year) free cash flow was 12% and would be around 8% still if profits go down 33% from the top. Looks to me like they are simply putting out there the obvious.Deflation is over and inflation is going to hit hard this year,and into18.Id expect if Next profits went down by 33% a lot of their competition would go under. Interesting though they are paying most of the free cash flow out as dividends this year (around 8%) rather than share buy backs.Looks like investors have told them they want cash out of the business. Quote Link to comment Share on other sites More sharing options...
Democorruptcy Posted January 4, 2017 Share Posted January 4, 2017 7 minutes ago, durhamborn said: Id say Next are the best ran retailer of the lot.No net debt on the balance sheet (if you count the directory debts from consumers as assets) and churn out free cash flow.Looking at the balance sheet now it looks like at the top of the cycle (last year) free cash flow was 12% and would be around 8% still if profits go down 33% from the top. Looks to me like they are simply putting out there the obvious.Deflation is over and inflation is going to hit hard this year,and into18.Id expect if Next profits went down by 33% a lot of their competition would go under. Interesting though they are paying most of the free cash flow out as dividends this year (around 8%) rather than share buy backs.Looks like investors have told them they want cash out of the business. Read the annual report from the link I posted. It mentions that In 2014 they made changes to try make sure Executives weren't incentivised to recommend share buybacks. Quote Link to comment Share on other sites More sharing options...
durhamborn Posted January 4, 2017 Share Posted January 4, 2017 Just now, Democorruptcy said: Read the annual report from the link I posted. It mentions that In 2014 they made changes to try make sure Executives weren't incentivised to recommend share buybacks. Interesting,the S+P 500 seems to be driven by share buy backs.Cash returns are always better for shareholders in my book. Quote Link to comment Share on other sites More sharing options...
200p Posted January 4, 2017 Share Posted January 4, 2017 Well at least they didn't blame the weather. Await news on Debenhams, Marks & Spencer, Supergrioup, Boohoo, and ASOS. Quote Link to comment Share on other sites More sharing options...
EnglishinWales Posted January 4, 2017 Share Posted January 4, 2017 We don't need to go to a shop to buy Chinese-made clothes when we can buy them on ebay for 2/3 the price. Quote Link to comment Share on other sites More sharing options...
200p Posted January 4, 2017 Share Posted January 4, 2017 Some news on John Lewis: John Lewis Partnership Obviously this business is not listed on the stock market, because it's a partnership. However, it reports on Xmas trading each year via its website - here is this year's report, which covers the 6 weeks to 2 Jan 2016. Key points; Waitrose LFL sales (excl. fuel) down 1.4% John Lewis stores LFL sales up 5.1% - clearly an excellent result (assuming margins are similar to last year) "Click & collect" important & growing Online is still growing very fast: Online sales were up 21.4%, representing 40% of total sales http://www.stockopedia.com/content/small-cap-value-report-4-jan-2017-nxt-jlewis-bm-staf-acrl-spsy-camb-164796/ Key is online sales Quote Link to comment Share on other sites More sharing options...
EnglishinWales Posted January 4, 2017 Share Posted January 4, 2017 Can we merge this with the companies next to go bust thread. Quote Link to comment Share on other sites More sharing options...
200p Posted January 4, 2017 Share Posted January 4, 2017 Nothing to do with Brexit. The peak was late 2015 - fashions change? They need to invest more on online. Quote Link to comment Share on other sites More sharing options...
crashmonitor Posted January 6, 2017 Share Posted January 6, 2017 (edited) Hmm so Next are threatening us with higher prices. Sorry mate but we don't have to buy your stuff, which is why i think CPI will be contained to a certain extent. I did buy a lot of clothes/ footwear back in 2012, well probably not by most people's standards, but about £360 all told which has since fallen to about £150pa.. But i have taken to having repairs done on some of the better stuff. In fact my Quicksilver leather jacket (bought for £100 from TK Max in 2012, retail £360) I have had frayed cuffs done (£8), hole repaired (£4) and rezipped (£13). A bit like an old car, when do you call it quits. Still a great satisfaction not to have to bend over barrel at the behest of the Next Chairman who is telling us higher prices will come this year. Surely that's up to what the customer is willing to pay. Edited January 6, 2017 by crashmonitor Quote Link to comment Share on other sites More sharing options...
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