Executive

Next posts H1 loss but raises profit outlook on strong trading

10 days ago   |   By Fashion United

Next brand full price sales in the first half of this year were down 33 percent on last year and total sales including markdown sales were down 34 percent, while profit before tax was 9 million pounds. Next plc said in a statement that since full price sales at the beginning of the second half have continued to exceed expectations and the company has revised central scenario for full year profit, up from 195 million pounds to 300 million pounds.
For the first half, Next full price sales were down 62 percent on last year. The company added that in the first six weeks, prior to the period of...
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The U.K. Is Ending Tax-Free Sales Next Year

The U.K. Is Ending Tax-Free Sales Next Year

10 days ago   |   By Hypebeast

There's more bad news for the U.K. aviation sector as it has just been confirmed that tax-free shopping in the U.K. will end on December 31. On top of dealing with the negative effects of COVID-19, the U.K. government has posed a new regulation that states that overseas visitors will no longer be able to receive a VAT refund for items purchased locally and carried on from port in their luggage - this includes the Eurostar. Airports and other retail ports will also no longer be able to sell fashion items, electronics, and cosmetics with the duty-free stamp. Instead, visitors will have to...
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