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/

Next set to beat Marks and Spencer profits for the first time

Fashion chain Next gave Britain’s battered high street a boost after soaring Christmas sales put it on track for higher profits
By: David Craik
Published: Sat, January 4, 2014


Next has enjoyed an exceptional festive period Next has enjoyed an exceptional festive period [NEXT]


Its shares raced 555p to a record high of 6085p as it revealed a significantly better than expected 11.9 per cent increase in sales between November 1 and Christmas Eve. Store sales jumped 7.7 per cent with online demand up 21 per cent.

As a result it ramped up its full-year profit hopes by around 4 per cent to between £684million and £700million, which if met would see it beat rival Marks & Spencer, forecast to post a £645million profit, for the first time.

Next’s figures calmed fears that festive high-street shopping had been bashed by weak demand, widespread discounts and stormy weather and helped lift shares in M&S and Primark’s owner Associated British Foods.

Sales were lifted by strong demand for seasonal knitwear, with festive jumpers and onesies in vogue.

Next chief executive Lord Wolfson said its policy of never discounting before Boxing Day had helped while online sales had been lifted by its new next day delivery service which increased confidence amongst customers that their orders would turn up on time. He added: “I don’t want to boast as some retailers have a good period and others a bad. We have had a good one but it will present difficult comparatives next Christmas.”

Wolfson cautioned that despite a steadily improving economy and the end of the credit crunch as customers paid off debt there would be no “consumer spending boom” for some years to come.



Its shares raced 555p to a record high of 6085p


“It is unlikely that the strength shown in this quarter will continue through the first half of the year. We expect sales growth of between 3 per cent and 7 per cent for the year ahead,” he said.

“People aren’t feeling much wealthier as their salaries are not growing.”

Next also warned that a return to significant economic growth would likely result in rising interest rates that could moderate the spending of customers with mortgages.

It also announced a special 50p a share dividend next month worth £75million and another 50p dividend every quarter that its share price is above 5800p. Wolfson stands to net an extra £750,000 every three months.

Analysts at broker Nomura hailed it as an “exceptional” performance.

Citigroup Buy 6,087.50 6,085.00 6,100.00 7,000.00 Reiterates

Deutsche Bank Hold 6,087.50 6,085.00 5,900.00 6,100.00 Reiterates

.

anyone know current and 2014 projected p/e?

The current 19.23 on a couple of sites , cannot find the 2014 projected p/e

it makes an interesting comparison with ASC at 90!
now let's see what the market makes of ASC's figures tomorrow .... the city really is besotted to what common sense (which seems not to apply) says is a preposterous degree

Trouble is the day they fall short, ouch!!!!!!!!!!! They should be pleasing. :-))

Trouble is the day they fall short, ouch!!!!!!!!!!! They should be pleasing. :-))

The Telegraph -


Next Key Numbers


Latest Share Price (p)
6,195.00
Net Gearing (%)
77.72

Market Capitalisation (m)
9,542.24
Gross Gearing (%)
84.92

Share in issue (m)
155.03
Debt Ratio
73.50

P/E Ratio
19.23
Debt-to-Equity Ratio
0.49

Total dividends per share (p)
105.00
Assets / Equity Ratio
6.63

Dividend Yield (%)
1.79
Cash / Equity Ratio
47.72

Dividend cover (x)
3.05
Price to book value
33.41

NAV per share (p)
0.00
ROCE
0.40

Earning per share (p)
320.10
EPS Growth (%)
13.51

52 week high / low
6,255.00 / 3,874.00
DPS Growth (%)
16.67

Bloomberg = different figures.



NXT:LN

6,195.00+0.57%

Current P/E Ratio (ttm)
17.8726

Estimated P/E(01/2014)
17.8582

Relative P/E vs. UKX
1.0529

Earnings Per Share (GBP) (ttm)
3.4662

Est. EPS (GBP) (01/2014)
3.4690

Est. PEG Ratio
1.3591

Market Cap (M GBP)
9,604.25

Shares Outstanding (M)
155.03

30 Day Average Volume
315,972

Price/Book (mrq)
47.1168

Price/Sale (ttm)
2.6760

Dividend Indicated Gross Yield
1.97%

Cash Dividend (GBp)
50.0000

Dividend Ex-Date
01/15/2014

5 Year Dividend Growth
14.87%

Next Earnings Announcement
03/20/2014




http://www.bloomberg.com/quote/NXT:LN

Next's price target lifted to price of a cheap suit by Credit Suisse

By John Harrington

January 17 2014, 11:06am
'We see few near term concerns regarding our 14/15 forecasts,' Credit Suisse said.


Credit Suisse is comfortable with its near-term forecasts for fashion firm Next (LON:NXT) but sees challenges further down the road.

Credit Suisse is forecasting 6% profit before tax growth and 12% earnings per share growth for fiscal 2014/15, putting the stock on a prospective price/earnings ratio of (PER) 16.

With a dividend yield of 5.5% and a medium-term PE/total shareholder return ratio of 1.2, the shares are not expensive versus the retailer's peers, the broker said, as it increased its 12-month target price to £65 from £55.

Long-term assumptions are "demanding", however, the broker argues.

"Next Brand EBIT [underlying earnings] margins are near 20%, which is frequently a watershed in retail, and, given the relatively low sales growth, we believe the valuation discounts these margins into maturity, driven by positive brand LFL [like-for-like] sales and a benign gross margin environment, coupled with 21% tax rates, the lowest in 20 years."

The broker's rating is "neutral".

"The shares should be supported at £60, our estimated average buyback threshold over the next 12 months and/or 5.7% prospective dividend yield," Credit Suisse believes.

Next shares currently trade at around £61.80.

.
What Are NEXT plc’s Dividend Prospects Like Beyond 2014?
Fool.co.uk
By Royston Wild | Fool.co.uk – 3 hours ago



Today I am looking at British clothing and homeware retailer NEXT (Dusseldorf: NXG.DU - news) 's (LSE: NXT) dividend outlook past 2014.

A fashionable income selection

NEXT has punched mammoth earnings expansion over each of the past four years, recovering strongly from the fallout of the 2008/2009 financial crisis and subsequent impact on spenders' budgets. Indeed, the company has seen earnings grow at a compound annual growth rate (CAGR) of 12.1% since 2010, and this excellent growth has delivered compound growth of 12.3% in the dividend.

Promisingly, the City's number crunchers expect earnings growth to grow 17% in the year concluding January 2014, with advances of 8% pencilled in for each of the following two years.

Given these sterling earnings projections, NEXT is expected to keep dividends rolling at breakneck speed. A 17.1% advance is expected for this year, to 123p per share, followed by an 11.1% increase in 2015 to 136.7p. A dividend of 150.9p per share is predicted for 2016, a 10.4% rise.

The company's robust earnings outlook creates cast-iron dividend coverage well above the safety watermark of 2 times prospective earnings — indeed, cover comes out at 2.8 times through to the end of 2016. Moreover, NEXT's ability to generate shedloads of cash should also boost investor faith in dividend projections for this period, with free cash flow leaping to £239m during February-July versus £127m in the corresponding 2012 period.

However, dividend projections through to 2016 create yields substantially below the FTSE 100′s forward average of 3.1%, as well as those of high-street rivals Marks & Spencer Group and Debenhams (Other OTC: DBHSY - news) , which sport prospective readouts of 3.6% and 4.2%. By comparison, NEXT's dividend yields for the next three years come in at 2%, 2.2% and 2.4% respectively.

However, I believe that NEXT's impressive cash-generative qualities make it a stunning income pick. Although yields remain below those of the wider market, the company plans to continue compensating for this via special dividends and buybacks.

Indeed, the retailer commented in January's trading update plans to distribute a 50p per share special dividend following bubbly post-Christmas results. And the business added that “in the year ahead, we currently expect to generate and return a further £300m of surplus cash” which should it intends to distribute to shareholders.

As NEXT continues to defy the effects of declining footfall on the UK High Street, and make stunning progress in online and foreign marketplaces, I fully expect shareholder returns to keep bubbling higher well into the long term.

Next hands further special dividend to shareholders

Fri, 31 January 2014



Investors in fashion chain Next are to get another special dividend because its shares are trading at too high a level to return cash in buybacks.

Next, which announced on January 3rd that it would pay a special dividend of 50p per share to shareholders on February 3rd, said it would make a further special dividend payment of 50p on May 1st.

The company said it was paying the special dividend instead of share buybacks, which it has temporarily halted because its shares have traded since late October above the level at which it said it would buy back shares.

The first special dividend was worth £75m in total, which equalled the cash it would have used for buybacks between October last year and this month.

Next said in January that it expected to generate and return a further £300m of spare cash, which would be returned either through further quarterly special dividends or buybacks, depending on the share price.

It said it was returning the cash because it already generates more money than it can invest productively in the business.

In January, the group raised its yearly profit outlook after unveiling pre-Christmas sales that topped its own forecast, making it one of the high street's festive trading winners.

It said total sales rose 11.9& between November 1st and Christmas Eve, helped by its policy of not cutting prices before Christmas.

Shares fell 0.88% to 6,185p by 12:18 in London.

Back on short watch, upside looks to have stalled, potential head and shoulders shorting formation being built..

.
Next Plc Could Help You Retire Early
Fool.co.uk
By Peter Stephens | Fool.co.uk – 9 hours ago
.

next


A key theme for 2014 could be the rate of earnings per share (EPS) growth.

Indeed, it seems as though many market participants are expecting 2014 to be the year when the UK and world economy grew faster than since before the credit crunch (judging by various forecasts, at any rate). That's because the price to earnings (P/E) ratios of a significant number of companies have been expanded over the last year or so.

One example of this is UK clothing retailer Next (Dusseldorf: NXG.DU - news) (LSE: NXT). It has gained in popularity as the market has demanded companies with strong track records of growth and tempting forecast growth potential, too.

On this front Next does not disappoint. The last four years have seen EPS growth average over 17% per year which, when the challenging nature of the UK and European economy is taken into account, shows just how well Next has performed.

Furthermore, Next is forecast to deliver steady, if unspectacular, EPS growth rates of 8% per annum over the next two years. This is slightly ahead of the average forecast for the FTSE 100 over the next two years of between 4% and 7%, so is an impressive figure even if it is less than half the amount the company has posted, on average, over the last four years.

As well as being a relatively strong growth stock, Next continues to offer an income component of total return that could still tempt some income-seeking investors.

Certainly, a current yield of just under 2% is nothing to shout about but, crucially, Next is forecast to increase the amount it pays in dividends (on a per share basis) by just under 25% over the next two years. This is far in excess of the majority of other UK-listed major stocks and, although the yield of less than 2% is considerably below the yield of the FTSE 100, it could be much higher in a couple of years' time.

Indeed, if Next's share price stays where it is, the increases in dividends per share could mean that shares yield around 2.4% in 2015/16. This, combined with a strong track record of EPS growth and above-average growth prospects for earnings in the near-term, mean that Next could help you retire early.

crikey!
took my eye off this one and it's whizzed away

Yes, under £55 Jan 1st.

Next: Bank of America increases target price from 7000p to 7400p maintaining a buy recommendation.

Telegraph
By Telegraph Staff | Telegraph – 3 hours ago

Annual profits for clothing retailer Next (Dusseldorf: NXG.DU - news) should overtake its rival, Marks & Spencer, for the first time this week.

= Next profits to overtake Marks & Spencer (Other OTC: MAKSF - news) =

Annual profits for clothing retailer Next should overtake its rival, Marks & Spencer, for the first time this week.

Next, led by chief executive Lord Wolfson, increased its forecast for annual profits in January after enjoying a stellar Christmas on the high street.

Lord Wolfson said in the festive period trading update that annual profits would be between £684m and £700m. That means annual profits will increase more than 10pc compared with last year and should beat M&S, which is forecast to post pre-tax profits of £626m for the year to the end of March. When Next reports its final results on Thursday, analysts will be keen to hear whether the uptick in sales enjoyed by Next in the run-up to Christmas has continued so far in 2014.

The City will also be looking for an update on Lord Wolfson’s plans for Next’s cash pile. The company’s better-than-expected performance in recent months means it has accumulated surplus cash, so Lord Wolfson said Next will distribute some of that cash to shareholders through a series of special dividends.

Sunday Times

Shareholders of fashion retailer Next are set fair, says the Inside the City column.

Next has bought back shares every year since 2001 and it has taken one-fifth of its stock off the market in the last five years.


The scarcity of stock — and surging profits — led to a fivefold increase in the share price.


But Next has shifted its plan. As long as the stock is trading at such elevated levels, chief executive Lord Wolfson believes it makes more sense to spend the money on special dividends instead. The company paid its first one of 50p this month. Another is coming in May.


All the above is, of course, great news for investors.





Of all the retailers that the asset manager Investec covers, Next is the most profitable, with margins of nearly 19 per cent. Analysts expect about £700m in profits for the year, up from £620m in 2012.


Wolfson has plenty of incentive to keep up the momentum. He owns £100m of shares and is on an incentive deal that last year paid him £4.6m.


The more profitable Next Directory mail order and online arm, meanwhile, is booming, posting an annual earnings increase of 13 per cent.

If you are not already an investor, don’t pile in hoping for big gains. But if you are happy with a more modest increase in underlying value, this is for you.