Trading Statement

Next PLC
06 January 2004



Date:                   Embargoed until 07.00am, Tuesday 6 January 2004


Contacts:               Simon Wolfson, Chief Executive
                        David Keens, Group Finance Director
                        NEXT PLC
                        Tel:  [phone]


                        Alistair Mackinnon-Musson
                        Philip Dennis
                        Hudson Sandler
                        Tel:              020 7796 4133
                        Email:            [e-mail]


                        Photographs available:  http://www.next.co.uk/press/
                        (or Hudson Sandler, as above)



                                    NEXT PLC

                               Trading Statement


Sales for the period from 4th August 2003 to 24th December 2003 were as follows:

NEXT Retail:               15.8% ahead of last year

NEXT Directory:            16.1% ahead of last year

NEXT Brand:                15.8% ahead of last year

Like-for-like sales in the 304 stores that have been trading continuously for at
least one year were 2.8% up on last year.  Included in those stores are 30 that,
as planned, have been directly affected by new store openings and extensions.
Like-for-like sales in the 274 stores that have not been affected by new space
were 4.7% ahead of last year.

We now expect that full year profits will be above our internal forecasts,
mainly for the following reasons:

  • Full price sales during the Christmas week were well above our
    expectations.

  • Clearance rates during the end of season Sale were significantly higher
    than we anticipated, on residual stock that was marginally down on last
    year.

  • NEXT Directory finished the season strongly.  It also benefited from the
    operational improvements that were highlighted in our Interim Statement.

We now anticipate a full year pre-tax profit of not less than £340m (last year
£301m).  This would result in earnings per share growth of around 30 per cent.


                      This information is provided by RNS
            The company news service from the London Stock Exchange