Next has maintained its guidance for the year as first quarter sales came in ahead of forecast, helping to offset what it expects will be a weaker second quarter.
The fashion and home retailer reported full price sales rose 5.7% in the thirteen weeks to 27 April, slightly ahead of its 5% forecast.
Online sales jumped 8.8% during the period, while retail sales remained flat.
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Despite the positive start to the year, Next said it expects sales in its second quarter to dip 0.3%.
“We expect the sales performance in the second quarter to be weaker than the first quarter because last year benefited from particularly warm weather from late May through to the end of June,” it said.
As such, Next expects full price sales in the first half to be up 2.5.
The retailer maintained its annual sales and profit guidance with group pre-tax profit still expected to reach £960m, a rise of 4.6%, and a 2.5% increase on sales to £4.9bn.
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