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Next lowers outlook but is still in a better position than many rivals, says GlobalData

Following today’s release of Next Q1 figures for 2020/21, Sofie Willmott, lead retail analyst at GlobalData, a leading data and analytics company, comments: ‘‘Since it initially updated on its full year outlook in mid-March, Next’s worst case scenario has gone from bad to much worse with full-price sales now expected to fall up to 40% (versus its previous view of -25%), demonstrating how demand for clothing & footwear has dropped off a cliff. Considering Next was outperforming the market prior to COVID-19 hitting sales, helped by its strong online channel and wide product range, many clothing retailers will be performing much worse than it is and we expect more casualties over the coming months.

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