As reported in Cross Atlantic Insight: Revenues at the direct division of British apparel and decor retailer Next rose 7 percent to £873.2 million ($1.30 billion) in the year ended January 2010. Profits for the division are also up, from £157.6 million ($234.6 million) last year, to £183.6 million ($273.3 million)—a rise of 16.5 percent. Overall pretax profit at the retailer was up 18 percent to £505 million ($751.5 million).
Next says one of its primary targets for 2010 is growing its international business. The retailer is moving away from overseas store openings to focus on its international website NextDirect.com. Having posted a profit of £800,000 ($1.2 million) via its international website last year, Next has set its sights on generating a profit of £1.4 million ($2.1 million) on sales of £7 million ($10.4 million) in 2010.
This year will also see Next embark on a fully fledged international marketing campaign; it has already started testing concepts in the US.
Monday, March 29, 2010
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