The retail industry has taken a battering in recent years following the European economic crisis and this has led to failed businesses and a drop in fortunes for some of the country’s biggest retail names
One major retailer bucks the trend
One company that has seemingly weathered the storm better than most is retailer Next. They took the now unusual move of increasing profit forecasts with the retailer now saying they expect profits to be between £575m and £620m.
Analysts believe the reason behind Next’s survival and improvement is their multi-channel approach to retail; a practice which the group has honed seemingly to great benefit.
Their stores and directory sales, as well as their online retail arm, combine well to give the company diversification and ensure that they are the fashion retailer that many people return to. While store sales enjoyed minimal improvement it was the Directory side of Next’s business that really gave them momentum this time around.
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