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Share Price Information for Next (NXT)

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Share Price: 9,036.00
Bid: 9,038.00
Ask: 9,042.00
Change: -96.00 (-1.05%)
Spread: 4.00 (0.044%)
Open: 9,180.00
High: 9,182.00
Low: 9,016.00
Prev. Close: 9,132.00
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Swap Next for Primark owner ABF, analysts suggest

Wed, 04th Jan 2017 11:41

(ShareCast News) - After Next's weak festive trading statement and profit downgrade, analysts at RBC Capital Markets predicted the shares will keep pace with the rest of the clothing retail sector, but said investors should rotate into Primark owner Associated British Foods.RBC said consensus profit forecasts would probably fall by a high single-digit rate but kept its rating on the shares at 'sector perform'.For the period between 1 November and 24 December, Next sales fell 0.4% and it said full-year profit before tax would be around £792m, 2% lower than its previous guidance.Guidance for the next year was very cautious with sales expected to change by -3.5 to +2.5% compared to RBC's -1% to +3% forecast, and PBT expected to be in the range of £680-780m versus the broker's £798m estimate.The rating was held as RBC said although it sees potential for further cost savings in warehouse and labour costs, Next remains "exposed to potential volume disappointments next year owing to price rises and as the competition has largely caught up online, plus we see a risk of further margin pressure owing to higher discounting".In the UK apparel sector RBC analysts expressed a preference for ABF, as they expect a gradual improvement in sentiment for its fast-fashion chain as sales improve.ABF shares' valuation at 25 times calendar-2017 earnings was seen as "much more attractive" than at the start of 2016, with the implied valuation for Primark de-rating sharply last year, "which we think gives investors an opportunity to buy into a relatively scarce, international rollout story"."We view Primark as a best-in-class discounter with a buying and pricing advantage, high sales densities and an attractive in-store environment and level of fashionability given its extremely low price points."
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10 Jan 2024 06:00

Retailers rush to avoid delays to spring collections due to Red Sea attacks

NEW YORK/LONDON, Jan 10 (Reuters) - Retailers worldwide are stocking up on goods before China's Lunar New Year holiday and seeking air or rail alternatives to transportation via the Red Sea in a scramble to avoid empty shelves this spring, executives and experts told Reuters.

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9 Jan 2024 09:47

UK's B&M not expecting material impact from Red Sea attacks

LONDON, Jan 9 (Reuters) - British discount chain B&M does not expect any material impact from disruption to shipments through the Suez Canal due to attacks by Iran-backed Yemeni Houthi militants in the Red Sea, its CEO said on Tuesday.

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9 Jan 2024 00:01

UK retailers report subdued Christmas spending: BRC

LONDON, Jan 9 (Reuters) - British retailers reported lacklustre sales around Christmas, according to industry data released on Tuesday which may add to concerns that the economy has tipped into a mild recession, less than a year before a likely national election.

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8 Jan 2024 09:24

LONDON BROKER RATINGS: Barclays cuts Berkley and Barratt, ups Bellway

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:

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8 Jan 2024 07:17

LondonMetric buys warehouse for £21.2m for let to Next

(Sharecast News) - LondonMetric Property said it had bought a warehouse in Doncaster for £21.2m which will be let to fashion retailer Next for 13 years.

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5 Jan 2024 08:57

LONDON BROKER RATINGS: Jefferies cuts Mondi to 'hold' from 'buy'

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

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4 Jan 2024 17:03

FTSE 100 rebounds as Next outweighs slump in JD Sports

Next shines on profit forecast hike

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4 Jan 2024 16:54

LONDON MARKET CLOSE: Stocks up ahead of US nonfarm payrolls

(Alliance News) - Stock prices in London closed higher on Thursday, as investors eye the latest US non-farms data.

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4 Jan 2024 13:35

UK'S Sainsbury's to spend 200 mln stg on 9% rise in workers pay

LONDON, Jan 4 (Reuters) - British supermarket group Sainsbury's said on Thursday it would invest 200 million pounds ($254 million) on raising the pay of 120,000 workers by more than 9% to a level above the new rate of the government-mandated national minimum wage.

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4 Jan 2024 13:07

London close: Stocks rise as US jobless claims slow

(Sharecast News) - London markets showed mixed performance on Thursday as investors digested the latest UK services and mortgage data and a fall in jobless claims across the pond.

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4 Jan 2024 12:09

LONDON MARKET MIDDAY: Retailers Next and JD Sports bookend FTSE 100

(Alliance News) - Stock prices in London were slightly higher at midday on Thursday, with the FTSE 100 looking set to snap the two-day losing streak it suffered at the start of the year.

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4 Jan 2024 11:25

Red Sea attacks could moderate growth at UK's Next, says CEO

LONDON, Jan 4 (Reuters) - British clothing retailer Next's sales growth will likely be moderated if disruption to shipments through the Suez Canal due to attacks by Iran-backed Yemeni Houthi militants in the Red Sea continues through 2024, its boss said on Thursday.

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4 Jan 2024 10:17

UK clothing retailer Next ups profit outlook again on strong Christmas

Full price sales up 5.7% in nine weeks to Dec. 30

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4 Jan 2024 08:58

LONDON MARKET OPEN: Next leads buoyant FTSE 100 amid services PMIs

(Alliance News) - Stock prices in London opened up on Thursday, amid a slew of services PMI data, including for the UK, while reacting to the latest data from China.

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4 Jan 2024 08:06

TOP NEWS: Next ups profit outlook again after bumper Christmas trading

(Alliance News) - Next PLC on Thursday lifted annual guidance once again, after sales around the key festive period were better than what the retailer had anticipated.

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