Next expected to show sales growth

British fashion retailer Next Plc is expected to announce an increase in sales when it reports its results on Wednesday, reports The Daily Telegraph, based on findings by retail consultancy Verdict. The paper expects like-for-like sales growth down by 3.0-5.0 percent, up from a 6.0 percent drop in September. In that month the retailer said it had suffered the worst trading conditions in ten years.

The industry will be following the release of the figures closely, looking for a sign that the market is improving. According to The Daily Telegraph, figures to be released by John Lewis on Friday will be a truer indication of market improvements. Meanwhile, Next has lost business to Marks & Spencer, which experienced a sales recovery recently. "Both companies share too many customers," said Richard Hyman, managing director of Verdict. "I do not believe both have had a very good Christmas period. M&S has been performing well, though this is from a low base last year."