NEXT is a UK based retailer offering exciting, beautifully designed, excellent quality

fashion and accessories for men, women and children together with a full range of

homewares# NEXT distributes through three main channels:


■NEXT Retail, a chain of more than 500 stores in the UK and Eire;
■NEXT Directory, a home shopping catalogue and website with around 3 million active customers and international websites serving approximately 50 countries; and
■NEXT International, with almost 200 mainly franchised stores around the world#
Other businesses in the NEXT group include:■NEXT Sourcing, which designs, sources and buys NEXT branded products;
■Lipsy, which designs and sells its own branded younger women's fashion products through retail, internet and wholesale channels; and
The parent company, NEXT plc, is listed on the London Stock Exchange #LSE: NXT#L# and is a member of the FTSE 100 Index# Total revenues for the year ended January 2012 were £3#5 billion with underlying pre-tax profits of £570 million# NEXT's head office is located in Enderby on the outskirts of Leicester, England

http://www.next.co.uk/

09 May 07:56 Next PLC Beaufort Securities Upgrades
Next: Deutsche Bank 4600p to 4850p and maintains its buy recommendation

Thu 09 May 2013

Thursday tips round-up: Next, Genus, StanChart LONDON (SHARECAST) - Retailer Next is facing a "new normal," something which its Chief Executive, Lord Wolfson of Aspley Guise, describes as an environment where the shopper is careful with his or her money and retailers can no longer expect an automatic year-on-year rise in like-for-like sales. So much so in fact that analysts believe that a sales rise across the group of 2.2 per cent in the 14 weeks to last weekend masks an underlying fall of about 4.4 per cent. Nevertheless, the company continues to generate more than sufficient cash to continue with its current share buy-back policy. Those buybacks, and the prospect of special dividends, then, provide a strong support, and Next looks like one of the few retailers worth having in the present environment, The Times´s Tempus writes.

Next PLC (NXT:LSE) set a new 52-week high during today's trading session when it reached 4,696.5. Over this period, the share price is up 61.81%.

Nomura has downgraded its rating for High Street giant Next from 'buy' to 'neutral' after the recent strong performance in the share price.

The broker said that while Next's management is "best-in-class", this is increasingly reflected in the stock's valuation. Increasingly returns have meant that the shares have re-rated strongly from January 2011 when they were trading at 8.4 times forward earnings - they now trade at a price-to-earnings multiple of 14.

----------------------------------------------------------------------------------------------
Broker snap: Nomura downgrades Next after strong run
Mon 20 May 2013

Broker snap: Nomura downgrades Next after strong run LONDON (SHARECAST) - Nomura has downgraded its rating for High Street giant Next from 'buy' to 'neutral' after the recent strong performance in the share price.

In a research report on Monday morning, the broker said: "In our view, Next remains one of the best allocators of capital and most innovative cost managers in the retail sector. Management has maintained consistent high hurdle rates for new capital, while not assuming growth in its product markets and planning costs and cost innovations accordingly.

"Its product strategy over time has eschewed competition at the commodity end of the apparel market and sought to offer a point of difference to customers, allowing it to retain more of the gains from supply-chain efficiencies for shareholders."

Nomura added that while Next's management is "best-in-class", this is increasingly reflected in the stock's valuation.

Increasingly returns have meant that the shares have re-rated strongly from January 2011 when they were trading at 8.4 times forward earnings - they now trade at a price-to-earnings multiple of 14.

"At this level management has been clear that it is less likely to buy back shares, as the return it can generate for equity shareholders is diminishing (unless its cost of capital falls further or profit forecasts are upgraded, neither of which we see as likely at this juncture)."

Nomura's target price for the stock has been left at 4,450p.

Next PLC (NXT:LSE) set a new 52-week high during today's trading session when it reached 4,715. Over this period, the share price is up 58.12%.

Next: Morgan Stanley downgrades to underweight with a target price of 3920p.

Morgan Stanley: Shop for shares in M&S, not Next
By Jamie Nimmo May 24 2013, 11:55am




Morgan Stanley puts Next’s success down to superior management executionMorgan Stanley puts Next’s success down to superior management execution

Morgan Stanley has decided that high street clothing retailer Next (LON:NXT) has performed so well that it is now time to sell the shares.

The stock is at all-time highs and the broker is sceptical that it can continue the strong run.

It recommends switching to shares in Marks & Spencer (LON:MKS) instead.

“We see no near-term reason why investors should lose confidence in Next’s ability to out-execute peers, so it is possible the shares could rerate further,” said Geoff Ruddell, the broker’s retail analyst.

“However the multiples are already close to 10-year highs, both absolute and relative, so we think the risk reward looks unattractive at these levels.”

He puts Next’s success down to superior management execution and says that while the retailer was lucky to have an established mail order business in place when internet shopping took off, it has no significant advantage over its rivals.

Ruddell went on to question whether Next could be the next H&M – a clothing chain that has suffered despite being fronted by global icon David Beckham.

“Investors need only look at H&M’s recent history for proof that great execution is not a sustainable competitive advantage and that margin expansion can go too far,” the analyst warned.

Next shares fell 2.2% to £45.88 each.

26 June -

NEXT (Other OTC: NXGPF - news)

The same day is final ex-dividend day for high street clothing chain NEXT . After reporting a 3.1% rise in revenue for the year to January 2013, a 9% rise in underlying pre-tax profit, and a 16.6% boost to underlying earnings per share, Next declared a final dividend of 74p per share.

That takes the full-year payment to 105p per share, up 16.7p, and follows Next's policy of lifting its dividend in line with earnings per share. With the share price currently on 4,597p, the total payment represents a yield of 2.3%.


http://uk.finance.yahoo.com/news/3-ftse-100-shares-going-124500680.html

NEXT (Other OTC: NXGPF - news)

NEXT continues to knock spots off its high-street competition. The market's regard for the company is manifested in its share price. So far this year, shares in NEXT are up 23%. In the last month, as the market has corrected, NEXT has outperformed the index by 6%.

A trading statement issued in May has helped underpin confidence further. Although the cold weather knocked shop sales down 2%, online and Directory sales were 9% ahead on last year.

The company is forecast to grow EPS and dividends this year and next. That puts the shares on a prospective P/E for this year of 14.4, with a 2.5% dividend. That's a small premium to pay for such a clear winner.

Goldman Sachs retains neutral on Next, target raised from 4200p to 4700p. - See more at: http://www.stockmarketwire.com

Thinking of shopping for shares in High Street stalwart Next (LON:NXT)? Hold off for now is the advice from heavyweight broker Goldman Sachs, which has a ‘neutral’ rating on the shares.

Goldman thinks online sales will stay strong, while its store base will still put the brakes on growth.

Directory, the online business, is the reason for its higher estimates, which are behind the target price increase. The broker is now aiming for £47 a share, having pointed to £42 a pop previously.



http://www.proactiveinvestors.co.uk/columns/broker-spotlight/13461/broker-round-up-whitbread-dunelm-group-next-sabmiller-african-barrick-gold-13461.html

Will Next hit £50?


Next PLC (NXT:LSE) set a new 52-week high during Monday's trading session when it reached 4,819. Over this period, the share price is up 51.14%.

NEXT (Other OTC: NXGPF - news)

It's not that long ago that the idea of retailers hitting new heights seemed far-fetched, but that's what fashion purveyor NEXT has been doing of late. Yesterday the shares touched on a 52-week high of 4,834p, and though they're down a little from that to 4,770p today, the price is still up more than 50% over the past 12 months.

The firm has enjoyed double-digit growth in earnings per share (EPS) over the past four years, and there's more of the same expected -- City forecasts suggest a 10% rise for January 2014, putting the shares on a P/E of 15. Dividend yields are around the 2.5% mark.



http://uk.finance.yahoo.com/news/3-ftse-shares-hitting-highs-151508665.html

Trading statement Tues 30 July

3 FTSE 100 Shares Hitting New Highs: BAE Systems plc, NEXT plc And Admiral Group plc

NEXT (Other OTC: NXGPF - news)

NEXT is considered by many, including me, to be one of our very best retailers. And that's backed up by a 50% rise in the share price over the past 12 months, taking it to a new 52-week high of 4,920p today. Fundamental performance? We've seen double-digit earnings growth for four years in a row, after a modest 8% fall in the crunch year of 2009 -- and that over a period when many retailers were fearing for their lives, or worse.

Forecasts suggest two more years of the same, with NEXT shares on a P/E for the year to January 2014 of 15.5, dropping to 14 for a year later. With dividend yields of only around 2.4%, the "screaming bargain" years might be past, but I reckon NEXT is still a great company.


http://uk.finance.yahoo.com/news/3-ftse-100-shares-hitting-142118684.html





Next PLC (NXT:LSE) set a new 52-week high during today's trading session when it reached 4,927. Over this period, the share price is up 51.67%.

Next sales brighten up with the sunshine

SUNNY weather has brightened up sales at the high street shops of Next, the fashion retailer is set to say this week.



Published: Mon, July 29, 2013

Next-s-future-is-looking-bright-as-the-sun-lures-in-shoppers Next's future is looking bright as the sun lures in shoppers

In a trading update tomorrow Next will reveal that the warmer temperatures tempted more clothing shoppers through its doors in the last three months.

Analysts at broker Peel Hunt believe that the group will reveal slightly stronger overall sales in the second three months of the year than it achieved in the first quarter of 2013.

They expect sales at the company’s Directory catalogue and online business to slow to 6 per cent, while shops are tipped to have done broadly the same as last year but up from the first quarter.

In the first three months of this year Next boosted overall sales by 2.2 per cent, with Directory up 8.9 per cent and shops down 1.9 per cent.


Peel Hunt, which is advising investors to hold on to their shares in Next, said that it expected the company to forecast profits towards the higher end of a range anticipated to be somewhere between £615million and £665million

The company said in its last update that cold weather in March froze demand for spring clothes but that the pent-up demand returned as the weather heated up.

Peel Hunt, which is advising investors to hold on to their shares in Next, said that it expected the company to forecast profits towards the higher end of a range anticipated to be somewhere between £615million and £665million.

Next shares closed 18p down at 4851p on Friday.

Numis Hold 5,002.50 4,902.00 - 5,250.00 Retains

NEXT (Other OTC: NXGPF - news)

I was saying recently how highly I rate NEXT as a business, and today we see the share price rising further -- it's up 122p (2.5%) to 5,024p by mid-morning. The driver today is an upbeat first-half trading statement, telling us that total brand sales were up 2.3%, which is around the middle of the firm's earlier guidance of 1% to 4%. That does include the firm's end-of-season sale period, which carried 20% less stock than last year -- prior to that, sales for the period were up 3.7%.

The company is, apparently, seeing volatility in sales over shorter time scales. But averaged out it seems that sales trends are quite stable, and NEXT has seen fit to narrow its sales growth guidance for the full year to somewhere between 1.5% and 3.5%. Pre-tax profit is expected to be around £635-675m, for a growth of 2.2% to 8.6%, with underlying earnings per share (EPS) up between 8% and 15%. The firm also expects its share buybacks for the year to total £250-350m.

Next PLC (NXT:LSE) set a new 52-week high during today's trading session when it reached 5,080. Over this period, the share price is up 55.95%.

Next (LON:NXT)

Yesterday, Next released a trading statement for the 26 weeks ended 27th July 2013. During the period, total Next Brand sales were up 2.3% with a better performance during the ‘End of Season’ sale. Until 12th July, total next brand sales were 3.7% higher from last year. The company witnessed increased weekly sales volatility due to changing consumer behaviour. Next kept its sales guidance for the second half unchanged from the first half, i.e. in the range of 1% to 4%. Sales for the full year are expected to be around 1.5% to 3.5% higher. Residual stock declined during the period, resulting in lower cost of markdown. The full year estimates were upwardly revised with group profit before tax expected to be in the range of £635m – £675m compared to the previous guidance of £615m – £665m. Basic EPS growth was also revised upwards to 8%-15% from 4%-13%. Share buyback is estimated to be worth £250m-£350m compared with the earlier projection of £250m.

Our view: Next posted strong growth of 3.7% in full price sales during the period. The current sales figures are in-line with the company’s estimates released in March. Higher full price sales, improved clearance rates and lower markdown have contributed an additional £10m to the company’s profits during the period, leading to increase in the full year estimates for profitability and EPS. The company has delivered a robust performance with upward revision in key estimates despite concerns over job security and lower income amongst the consumer class. Recent positive macro-economic indicators have also raised hopes of an economic recovery going forward, which in turn bodes well for the retail sector. Given the company’s strong online offering – Directory, the diversification into home-wares and new overseas markets and plans for adding more new stores to its current portfolio, we remain confident in the company’s ability to add further value for its shareholders. We remain Buyers of the stock.




http://www.proactiveinvestors.co.uk/columns/beaufort-securities/13708/beaufort-securities-breakfast-today-including-weir-group-next-plc-auhua-clean-energy-and-wishbone-gold-13708.html