Next boss Lord Wolfson sells £29m of stock in the high street bellwether Business Next’s chief executive has sold £29m worth of shares in the FTSE 100 fashion and homeware store. Lord Wolfson of Aspley Guise sold around 290,000 shares, leaving him with 950,000 shares worth £100m, Next told markets on Friday. News of the sale sent Next’s share price down 3.5 per cent, although it’s risen by 21.24 [...]
Next: Closures on the horizon if court rejects appeal. What is in store for the retail giant? Legal Fashion retailer Next lost a major legal battle last month over unequal pay in its UK operations. Now, it has been revealed that if it loses its appeal, it will have to close some of its stores
Next upgrades guidance again as the company welcomes ‘new phase’ Business Retail industry bellweather Next has upgraded its guidance by £15m after sales and growth “exceed expectations”, while it vies for £1bn in profit. The retailer upgraded the profit guidance it issued on 1 August by £15m, to £995m, “as a result of the strength of our full price sales over the last six weeks”. This [...]
Next: Analysts look for potential sales forecast upgrade in upcoming results September 15, 2024 Next could upgrade its forecast for full-year sales next week as the retailer looks to capitalise on new business overseas. The clothing retailer reports its interim results on Thursday amid a backdrop of 28 per cent growth in its share price so far this year. Next reported a 4.4 per cent rise in sales in [...]
Next pay ruling heralds impending employment law headache August 29, 2024 Next argued that in the wider labour market rates of pay for warehouse workers are higher than for shop-floor workers, and so they pay their warehouse workers more.
What’s Next: Retailer seeking appeal but does it stand a chance? August 28, 2024 Next lost a major equal pay case this week, resulting in an estimated £30m bill to foot but what does this mean for businesses? Lawyers tell City A.M. that the ruling is a "worrying precedent for employers"
Next ruling heralds employment law headache August 28, 2024 The Employment Tribunal accepted that the difference in pay rates between Next’s shop floor staff and their warehouse-based colleagues was not down to “direct discrimination” or the “conscious or subconscious influence of gender” on pay decisions. Why, then, did the retailer lose the claim brought by store staff? The answer concerns the much thornier issue [...]
Asda, Tesco and UK retailers face anxious wait after Next loses £30m equal pay claim August 27, 2024 Britain's supermarkets face an anxious wait after fashion retailer Next lost a major legal battle today over unequal pay in its UK operations.
Another one? Next hikes profit guidance again as sales soar ahead of expectations August 1, 2024 Department store Next has increased its profit guidance for the year as sales soared in its first half of its financial year.
Harley-Davidson sues Next over alleged rip off its biker label June 3, 2024 Harley-Davidson is suing Next in London’s High Court over claims one of the retailer's T-Shirts rips off its logo.