High street retailer Next is expected to deliver a not so rosy outlook for the rest of the year when it reveals its preliminary full-year numbers on Wednesday.
The Group’s figures will come during a busy week of reporting for retailers, with Debenhams and Ted Baker issuing trading and full-year announcements. Ian McDougall, retail analyst at Blue Oar Securities, is expecting little cheer from the high street. “Next’s numbers have been well flagged up so it’s all about the outlook for the rest of the year,” he said. “The prospects for the clothing industry this year and next aren’t great, so I think they’ll have a tough time ahead,” he added. “But the shares have been savagely discounted for a while now; I suspect much of that gloom is priced in already.”
Debenhams will issue a trading statement on Tuesday that is likely to show a modest decline in like-for-like sales over the period.”Although the situation clearly isn’t as bad as at Next, I don’t think there will be a lot of positives coming out of Debenhams either,” warned Mr McDougall.
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