Next approaches £10bn market cap after share price boost
Next’s share price rose by almost 8% on Tuesday after the firm announced better-than-expected results for its fourth quarter.
The Enderby company’s shares were changing hands for £74.64 each by late trading on Tuesday, up by £5.62 – or almost 8% – on the opening price.
The move meant Next now has a market capitalisation of £9.92bn.
On Tuesday morning, the retailer said that sales for the nine weeks to December 26 were down 1.1% on 2019 and “much better” than its forecast of a drop in revenue of 8% outlined in October.
Next says full-year profit before tax is likely to be £342m.
