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    NXT   GB0032089863

NEXT PLC

(NXT)
  Report
Delayed Quote. Delayed London Stock Exchange - 10/20 11:35:19 am
7982 GBX   -1.07%
10/11NEXT : Barclays Keeps Next At Overweight, Boosts PT
MT
10/07NEXT : Sanderson Design Group, Next To Develop Homewares Product Line
MT
10/05NEXT : Deutsche Bank Reiterates Next At Buy, Lifts PT
MT
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Next to run Gap brand in Britain's retail shake-up

09/17/2021 | 05:48am EDT

LONDON, Sept 17 (Reuters) - British clothing retailer Next has struck a deal with Gap, to run the U.S. brand's business in the UK and Ireland, bolstering its market reach after showing its resilience during the COVID-19 pandemic.

The deal gives Gap the opportunity to retain a significant presence in Britain and Ireland, having closed its shops in those markets earlier this year.

The two groups will form a joint venture to operate Gap's e-commerce business across the NEXT Total Platform, set-up Gap-branded Shop-in-Shops and offer click-and-collect options for online customers beginning in 2022.

Shares in Next were up 1.6% at 0842 GMT, extending their 2021 gains to 16.3%.

The partnership echoes moves by online retailers ASOS and Boohoo to snap up fashion brands that have gone out of business in the UK and are no longer available on the high street.

ASOS bought the Topshop, Topman, Miss Selfridge and HIIT brands in February from the administrators of Philip Green's collapsed Arcadia group for 265 million pounds.

In January, Boohoo purchased the Debenhams brand out of administration for 55 million pounds and in February bought the Dorothy Perkins, Wallis and Burton brands from the Arcadia administrators for 25.2 million pounds.

Next will own 51% of the JV, while Gap will own 49%.

Gap will be able to utilise Next's UK and Ireland store network of around 500 stores.

Next also has an online presence in over 70 countries selling its own brand and over 700 other fashion, home and beauty brands.

“Gap is partnering with Next ... to amplify our omnichannel business and meet our customers in (the) UK & Ireland where they are shopping now," said Mark Breitbard, CEO and President of Gap Global.

In July, Next lifted its profit forecast after pent-up demand for adult clothes and warm weather helped it smash sales forecasts. (Reporting by James Davey; Editing by Kate Holton and Alexander Smith)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ASOS PLC 4.76% 2661 Delayed Quote.-46.90%
BOOHOO GROUP PLC -0.55% 198.9 Delayed Quote.-41.69%
NEXT PLC -1.07% 7982 Delayed Quote.13.86%
All news about NEXT PLC
10/11NEXT : Barclays Keeps Next At Overweight, Boosts PT
MT
10/07NEXT : Sanderson Design Group, Next To Develop Homewares Product Line
MT
10/05NEXT : Deutsche Bank Reiterates Next At Buy, Lifts PT
MT
09/29LONDON STOCK EXCHANGE : AstraZeneca lifts FTSE 100 to its best session in one week
RE
09/29NEXT : Warns Of Year-End Disruption Unless UK Hires More Truck Drivers
MT
09/29EUROPEAN MIDDAY BRIEFING : Stocks Rise in Wake of Wall Street Rout
DJ
09/29FTSE 100 Gains as Ferguson, Next, AstraZeneca Rally
DJ
09/29NEXT : Retailer Next tells Britain to relax immigration rules to save Christmas
RE
09/29NEXT plc Provides Sales Guidance for the Second Half and Full Year 2021
CI
09/29FTSE 100 Seen Lower as Inflation, Supply Chain Fears Weigh
DJ
More news
Analyst Recommendations on NEXT PLC
More recommendations
Financials
Sales 2022 4 748 M 6 558 M 6 558 M
Net income 2022 673 M 930 M 930 M
Net Debt 2022 1 732 M 2 392 M 2 392 M
P/E ratio 2022 15,5x
Yield 2022 2,34%
Capitalization 10 327 M 14 254 M 14 265 M
EV / Sales 2022 2,54x
EV / Sales 2023 2,38x
Nbr of Employees 25 491
Free-Float 94,0%
Chart NEXT PLC
Duration : Period :
Next plc Technical Analysis Chart | NXT | GB0032089863 | MarketScreener
Technical analysis trends NEXT PLC
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 8 068,00 GBX
Average target price 8 593,82 GBX
Spread / Average Target 6,52%
EPS Revisions
Managers and Directors
Simon Adam Wolfson Chief Executive Officer & Executive Director
Amanda James Executive Director & Group Director-Finance
Michael James Roney Non-Executive Chairman
Richard Simon Vaughan Papp Executive Director & Operations Director
Dame Ila Dianne Thompson Independent Non-Executive Director
Sector and Competitors
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