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(Bloomberg) -- More cheap parcels exported from China are flowing into the UK than rival European economies, undermining British retailers that want the government to accelerate a promised crackdown.

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Chinese export data shows $1.8 billion of cheap parcels entered the UK between December and April, the sixth-most globally and more than France and Germany combined. Though the total was 11% lower than a year earlier amid a global slowdown, the drop was far smaller than in France where the government implemented a tax on the parcels in March.

Large British retailers including Primark and Marks & Spencer Group Plc are pushing for the UK government to take steps this year to close a tax loophole they say is helping online giants such as Shein and Temu gain market share.

In her budget statement in November, Chancellor of the Exchequer Rachel Reeves issued her promise to do so by 2029, but retailers say that is not soon enough. Meanwhile the government has yet to publish responses to a public consultation on the plan that closed on March 6.

The delay “only supports those operating overseas with no UK footprint and disadvantages UK retailers who employ thousands,” said George Weston, Chief Executive Officer at Primark owner Associated British Foods Plc. “Other countries are acting decisively to support their domestic sectors and the government must do the same.”

Scrapping the exemption is “a significant reform which backs our businesses to compete and grow,” a UK Treasury spokesperson said. “We are removing the customs duty relief for low-value imports and reforming the way these goods are declared into the UK to ensure all goods are appropriately controlled.”

Shein is engaging with the government on the UK’s proposed reforms, the company said in a statement. “Advocating for measures that risk increasing costs for British shoppers in the name of competitiveness will not ultimately benefit British consumers or retailers,” it said.

Temu didn’t respond to multiple requests for comment.

Crackdown

French President Emmanuel Macron’s government imposed a €2 ($2.30) tax on low-value imports in March, after introducing advertising restrictions on fast-fashion brands earlier in the year. The European Union is set to introduce a €3 fixed customs duty on parcels valued under €150 from next month, ahead of more extensive measures in 2028. President Donald Trump scrapped so-called de minimis exemptions in the US last year.

Story Continues

“I would really ask the government to go faster on the de minimis exemption abolishment,” said Tjeerd Jegen, CEO at discount retailer B&M European Value Retail Plc. The 2029 deadline is “way too late.”

Globally, Chinese low-value parcel exports fell 11% in the period from a year earlier, matching the drop in the UK. That’s happening as Chinese firms shift strategy in response to changes to de minimis rules around the world, according to Jun Du, a professor of economics at Aston Business School. Larger platforms are increasingly consolidating goods into bulk shipments, she said.

Even so, eighteen British retailers and associations including M&S and Next Plc wrote to the government last month, urging ministers to bring forward the crackdown. The companies noted that a flat fee of £2.60 ($3.47) per parcel would raise £1.7 billion a year for the UK treasury.

Low-value imports to the UK tripled between 2021 and 2024, while more marketing is being targeted at UK customers, the retailers wrote.

Tax Revenue

“This isn’t just important for British retail,” said Alex Baldock, outgoing CEO at electronics retailer Currys Plc. “Closing the loophole would generate significant tax receipts for the Treasury at a time when the government is looking for every pound of revenue it can find.” He added that Currys isn’t directly affected by the import of low-value parcels.

“Waiting until 2029 risks allowing billions more pounds of imports to enter under a regime that creates a structural disadvantage for UK retailers and reduces potential tax revenues,” said Dan Finley, CEO of clothing retailer Debenhams Group.

In France, anti-fraud authorities have fined Shein, including for not providing consumers with mandatory information. Junior minister for small business Serge Papin said on social media he’s fighting against “unfair competition.”

Shein, founded in China and now based in Singapore, also locked horns with the French government last year when ministers attempted to suspend its online platform in the country over sales of childlike sex dolls and weapons.

The company said it is contesting the fines in full. “We take our legal and regulatory obligations in France very seriously and remain fully committed to transparency and compliance with French regulations,” Shein said.

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Investoren, die an Einzelhandels-Wholesale-Aktien interessiert sind, sollten immer auf der Suche nach den besten Aktien in dieser Gruppe sein. Hat Next PLC (NXGPY) eine davon dieses Jahr gewesen? Durch einen Blick auf die Aktie im Vergleich zu ihren Einzelhandels-Wholesale-Peers könnte man diese Frage beantworten.

Next PLC ist ein Mitglied unserer Einzelhandels-Wholesale-Gruppe, die 189 verschiedene Unternehmen umfasst und derzeit bei #15 in der Zacks-Sektoren-Rangliste steht. Die Zacks-Sektor-Rangliste umfasst 16 verschiedene Gruppen und wird von best zu schlecht nach dem Durchschnitt-Zacks-Rang der einzelnen Unternehmen innerhalb jeder dieser Sektoren aufgelistet.

Der Zacks-Rang ist ein erfolgreicher Aktienauswahlmodell, das sich auf Earnings-Schätzungen und -Revisionsanpassungen konzentriert. Der System hebt eine Reihe von verschiedenen Aktien hervor, die möglicherweise in der Lage sein könnten, den breiteren Markt über die nächsten einen bis drei Monate zu übertreffen. Next PLC hat derzeit einen Zacks-Rang von #2 (Kaufen).

Über die letzten 90 Tage ist das Zacks-Konsens-Schätzwert für NXGPY's volljährige Earnings um 3,3% gestiegen. Dies signalisiert, dass sich die Analysten-Stimmung verbessert und der Aktien-Ertragsausblick positiver ist.

Basierend auf den neuesten verfügbaren Daten hat NXGPY bislang dieses Jahr etwa 2,2% gewonnen. In der gleichen Zeit haben die Aktien in der Einzelhandels-Wholesale-Gruppe durchschnittlich etwa 0,1% verloren. Dies bedeutet, dass Next PLC besser als sein Sektor im Hinblick auf die jährlichen Rückgänge performt.

Eine andere Aktie in der Einzelhandels-Wholesale-Sektors, Pattern Group (PTRN), hat bislang dieses Jahr den Sektor übertroffen. Der Aktien-Jahres-Rückgang beträgt 71,1%.

Die Konsens-Schätzung für die aktuellen Earnings von Pattern Group ist um 23,3% über die letzten drei Monate gestiegen. Die Aktie hat derzeit einen Zacks-Rang #2 (Kaufen).

Wenn man sich auf die Einzelhandels-Wholesale-Aktien konzentriert, sollte man weiterhin auf Next PLC und Pattern Group achten, da sie möglicherweise ihre soliden Leistungen fortsetzen.

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Die neueste Entwicklung bei den Analystenzielen für NEXT, einschließlich eines prominenten £14.000-Preisziels neben einer gekürzten fairen Wertabschätzung, hat die Aufmerksamkeit auf das Maß gelenkt, wie viel Investoren bereit sind, für den Aktienkurs zu zahlen. Einige Analysten verknüpfen das aktualisierte Ziel mit der Zuversicht in NEXTs Fähigkeit, seine Umsatz- und Margenpläne zu erfüllen, während andere die Ausführungsrisiken hervorheben und das Ziel senken, um vorsichtigere Bewertungsvoraussetzungen zu rechtfertigen. Wenn Sie weiterlesen, sehen Sie, wie diese sich ändernde Sichtweise und was sie für die folgende Entwicklung der Narrative um NEXT bedeuten.

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NEXTs Analystenkursziel wurde um £3,42 gekürzt. Dies hat zu einer Überprüfung der Auswirkungen auf den Aktienwert geführt. Analysten verbinden die Änderung mit aktualisierten Annahmen über das Rabatt-Satz und moderaterer Erwartungen an Umsatzerholungen. Diese Eingaben beeinflussen direkt, wie sie die Aktien bewerten und sich die Ausführungsrisiken vorstellen.

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(Bloomberg) -- UK retailers are discounting heavily to lure shoppers amid weakening consumer confidence, underscoring the risks facing the sector as it braces for higher costs linked to the conflict in the Middle East.

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Overall shop price inflation slowed to 1% year-on-year in April, the British Retail Consortium said Tuesday. Food prices rose 3.1% from a year earlier, compared with a 3.4% increase in March. Non-food prices by contrast fell 0.1%, returning to negative territory after growth of 0.1% in the year to March.

“With weakening consumer confidence, retailers competed harder on price to stimulate more spring spending,” BRC Chief Executive Officer Helen Dickinson said. “While we’re yet to see the full force of the Middle East conflict feeding into consumer prices, it will not be long before it begins to.”

Several retailers including fashion and homeware company Next Plc and grocer J Sainsbury Plc have warned about the fallout from the war in Iran, which has upended energy and shipping markets. That threatens to make imports more expensive at a time companies are already grappling with higher wages and UK taxes, posing a dilemma over whether to absorb or pass on costs to customers.

Though the conflict is already spurring inflation in the UK, the impact has been largely limited to energy and motor fuel. Retailers are bracing for impact from higher fertilizer and commodity prices, and the UK’s Food and Drink Federation now expects food inflation to exceed 9% by the end of the year.

“Increased fuel prices are already leading to higher inflation,” said Mike Watkins, head of retailer and business insight at NIQ, which compiled the data for the BRC. “We can expect a similar impact in the food and non-food supply chains in the months to come.”

Prior to the war, overall UK inflation had been on track to fall to the Bank of England’s 2% target in the second quarter, clearing the way for further interest-rate cuts. Now, however, it’s expected to stay at around 3% and accelerate in the third quarter, raising the possibility of rate increases instead.

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Never miss an important update on your stock portfolio and cut through the noise. Over 7 million investors trust Simply Wall St to stay informed where it matters for FREE.

NEXT’s updated analyst narrative now centres on a small trim to fair value, shifting from £148.04 to £147.86 per share. Supportive voices still see this refreshed target as leaving room for value creation, while more cautious analysts view the adjustment as a reminder that earlier expectations may have been demanding. As you read on, you will see how this recalibration fits into both the bullish and bearish cases, and how to keep track of an evolving story around the shares.

Analyst Price Targets don't always capture the full story. Head over to our Company Report to find new ways to value NEXT.

What Wall Street Has Been Saying

🐂 Bullish Takeaways

Even with a lower price target, Citi’s updated work suggests there is still scope for value if NEXT can keep executing on its current plan, provided expectations are set appropriately. Supportive analysts tend to highlight the company’s track record of tight cost and inventory control as a reason to stay engaged with the story, especially when the market is focused on shorter term demand swings.

🐻 Bearish Takeaways

Citi’s decision to cut its price target by 342 GBp is read by more cautious investors as a sign that prior assumptions on earnings power and valuation multiples may have been stretched. More guarded commentary often points to the risk that any stumble in consumer demand or execution could leave the current share price exposed if it is already discounting optimistic outcomes.

Do your thoughts align with the Bull or Bear Analysts? Perhaps you think there's more to the story. Head to the Simply Wall St Community to discover more perspectives!LSE:NXT 1-Year Stock Price Chart

We've flagged 1 risk for NEXT. See which could impact your investment.

How This Changes the Fair Value For NEXT

Fair Value trimmed from £148.04 to £147.86 per share. Revenue growth assumption adjusted from 5.14% to 5.10%. Net profit margin forecast moved from 13.03% to 12.96%. Future P/E multiple reduced from 21.24x to 20.45x. Discount rate nudged from 9.24% to 9.28%.

Never Miss an Update: Follow The Narrative

Narratives connect NEXT’s business story to analyst forecasts and an implied fair value, updating as new data and news come through. They help you see how shifting assumptions on growth, margins and risk all fit together in one place.

Head over to the Simply Wall St Community and follow the Narrative on NEXT to stay up to date on:

How expanding international operations, including the use of aggregators and targeted marketing, are expected to support future revenue growth. What NEXT’s investment in warehousing mechanisation, technology and AI-driven efficiencies could mean for cost control and profit margins. Key risks such as pressured UK retail sales, markdown driven margin pressure, higher working capital needs and potential disruption from warehouse transitions.

Story Continues

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include NXT.L.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

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(Bloomberg) -- The economic toll of the Iran war is hitting home in Europe, where more muted growth and faster inflation risk deepening industrial, fiscal and political pressures across the region.

Donald Trump’s military campaign, whose conclusion remains as unclear as when the first attacks were launched a month ago, is prompting countries to slash their expectations for output while bracing for an energy-driven upswing in prices.

The upshot for a continent that was just finally shaking off the effects of the conflict in Ukraine appears to be a partial return to the policy settings used to vanquish that crisis as households are offered aid and central banks pivot toward interest-rate hikes.

For companies, while the fallout is already straining resource-hungry sectors — including German chemical makers — there’s a growing danger it will spread more broadly as personal incomes are eroded.

All that will be on the minds of European Union finance ministers convening Friday. They’ll be briefed by International Energy Agency chief Fatih Birol in a hastily arranged video call to assess the war’s impact and how to better coordinate relief.

“It’s very clearly the energy-intensive sectors that are hurt first and foremost,” said Christian Keller, Barclays’s head of economics research. “But the longer it lasts, it will go into every sector, every input price.”

As oil and gas markets push higher and sentiment indicators plunge, Germany and Italy are among countries weighing cuts to their official growth projections, following a more somber outlook last week from the European Central Bank.

The current shock “is probably beyond what we can imagine at the moment,” Christine Lagarde said in an Economist podcast released Thursday. This “leads to a sort of a delayed assessment of how serious this current crisis is.”

The German chemical industry — hit hard by the last spike in energy costs in 2022 — has warned of output cuts with the Strait of Hormuz still effectively shut.

Production at the country’s biggest ammonia plant, SKW Piesteritz GmbH, has been scaled back to the technical minimum of 85%, while Evonik Industries, a maker of specialty chemicals, is still surveying the damage it may face.

“It’s still too early to quantify the exact consequences,” Chief Executive Officer Christian Kullmann said. But “Evonik won’t be able to escape the indirect consequences of the hostilities.”

Container shipper Hapag-Lloyd AG is facing additional weekly costs of $40 million-$50 million for things like fuel, insurance and storage. The company is trying to recover some through “contingency and emergency charges,” CEO Rolf Habben Jansen said.

Story Continues

Such costs are threatening to cascade through the supply chain, making life more expensive for everyone. Consumers are well aware: The share of households expecting faster price growth over the next year has risen “very strongly,” France’s statistics office said.

Next Plc, the British fashion company, warned it could raise prices between 1.5% and 2% if the war exceeds three months. Sweden’s Hennes & Mauritz AB said a drawn-out conflict could trigger a spillover from energy that risks curbing consumption.

Spanish inflation numbers Friday — the first from a major European economy for March — showed a smaller jump than expected, though the reading was still far above the ECB’s 2% target.

The reversal of fortunes in a region that had until recently been looking forward to an economic revival and benign inflation following last year’s trade turmoil could be consequential.

For the euro zone, one question is whether the conflict acts as a spur or an impediment to reforms enabling the bloc to go it alone in a world of crumbling US support and fiercer Chinese competition.

“Europe has shown in the past that it can turn crises into progress,” ECB Governing Council member Francois Villeroy de Galhau said Friday. “But today’s geopolitical crisis has not yet triggered the same acceleration,” he said, adding that “too often, each European actor plays too much of an individual game, adding its own delays, when what we need is to step up our collective game.”

Funding economic-support measures is also an issue for many countries, with only Germany having meaningful fiscal space, though French data Friday revealed a narrower deficit than anticipated in 2025.

What Bloomberg Economics Says...

“Fiscal policy remains the main lever for shielding voters from inflation. While economic research favors targeted support to limit incentives for higher energy use, untargeted transfers to wider segments of the population might still be politically appealing for incumbents. However, not all European governments have the fiscal space to pursue such an option.”

—Antonio Barroso, senior geoeconomics analyst. For full Insight, click here

The UK, meanwhile, must tap already strained finances to ease cost-of-living struggles that are fueling populists at both ends of the spectrum. Like the ECB, traders reckon the Bank of England will have to raise borrowing costs.

“The government will have to tread ever so carefully in what it does to extend the net this time round,” Andy Haldane, British Chambers of Commerce president and former BOE policymaker, told Bloomberg Television.

“The room for maneuver is very slight, the UK’s very plainly in the sights of markets from a public debt perspective,” he said. “The scope for misstep here speaks to a degree of caution and prudence in how that net is extended much as the political pressures will mount. Now is not the time for bravery.”

A flavor of just how bold Group of Seven policymakers will be is likely to come on Monday as energy and finance ministers speak virtually. French finance chief Roland Lescure summed up the scale of the challenge posed by the war.

“We’re at the intersection of economic issues, energy issues, inflation, central banks,” he said Thursday.

--With assistance from Philip Aldrick, Lizzy Burden, Tom Mackenzie, Marilen Martin, William Horobin and Daniel Basteiro.

(Updates with Villeroy in 18th paragraph.)

More stories like this are available on bloomberg.com

©2026 Bloomberg L.P.

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NEXT logo

Key Points

Management said it does not allocate any online benefit to stores when assessing store payback—stores can both aid and cannibalize online sales, with a closure example shifting roughly £2m of sales online. Middle East disruption has materially increased operating costs (air freight to Dubai and longer truck lead times); the company has identified about £15m of cost savings it expects largely to persist and will allocate marketing based on a £1.50 return hurdle, with overseas sales down roughly 2% so far. International third‑party brand sales are growing about 22% thanks to improved selection and listings, while warehouse execution has improved with NDFOT rates falling from ~8% to ~6% as mechanisation and replenishment changes take effect, though direct‑delivery options remain constrained by third‑party logistics costs. Interested in NEXT plc? Here are five stocks we like better.

NEXT (LON:NXT) fielded a wide range of investor questions on its latest earnings call, with management addressing store investment hurdles, the role of online aggregators, Middle East disruption and logistics, international third-party brand growth, and the potential implications of AI for retail economics and operations.

Stores, payback targets, and the online relationship

Asked whether store payback targets consider the benefit of stores as free pickup and returns points for online customers, management said it does not allocate any online benefit to stores.

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The company said there is “a good reason” for this approach: while stores can help online performance, they can also hinder it by competing for the same customer spend. Management pointed to an example where a store closure with no nearby alternative led to online improving, with some of the roughly £2 million store sales transferring to online. As a result, the company said it “shouldn’t account” for online benefit when assessing store economics.

Aggregator sites: limited customer insight, focus on marketing returns

On aggregator websites, management said it receives little customer-level insight from the platforms and indicated that is appropriate, adding it also does not share such insight with its own brands.

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What aggregators do provide is visibility into marketing performance. Using Zalando as an example, management said it spends around 2% of sales on marketing on the platform and applies the same requirement as elsewhere: marketing must clear a return hurdle to justify the spend. The company said it can spend profitably on aggregators and does so, but the feedback it receives is primarily on the return from marketing activity rather than on who the end customer is.

Story Continues

Middle East: cost actions, operational disruption, and volatile demand read-through

Several questions focused on the Middle East. Management discussed £15 million of cost savings identified since the start of the year and said it expects “very little” of that amount to reverse even if demand improves or geopolitical conditions stabilize earlier than budgeted. It added that downside risk to the savings figure appeared greater than upside risk, noting that some portion may not materialize because it has not yet been incurred, but it was not “getting excited about that.”

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On franchise stores in the Middle East, management declined to provide detail because it is “not our business,” but said franchise operations have “definitely been impacted.”

Operationally, the company described significant logistics disruption affecting lead times and costs:

From the U.K. to the Dubai hub, NEXT is shipping by air and receiving replenishment “at a very high premium,” which management described as a significant contributor to increased operating costs. From Dubai to other territories such as Saudi Arabia, Oman, and Kuwait, the company has shifted from air freight to trucking, adding roughly two to three days to lead times in most territories. Management said air service from Dubai to regional territories has returned intermittently and is changing “daily,” with hopes that air freight for Saudi Arabia could resume soon, depending on the war.

When asked what the Middle East is “trading at” currently, management said it is “very, very hard to read,” citing timing differences around Eid versus last year. It said comparisons shift day by day depending on the post-Eid period used.

Marketing allocation also came up in the context of Middle East disruption. Management rejected the idea of a fixed marketing “pot” that can be repurposed across regions, saying instead it invests according to a hurdle rate—described as a £1.50 return—and will continue spending in territories that exceed that threshold and reduce spend where returns fall short. Management said it still expected marketing to be up about 25% based on what it had seen so far, but noted that rising air freight costs can reduce marketing returns and therefore constrain spending ability. It also said the best estimate at the moment is that overseas sales have been reduced by around 2% as the full impact, while keeping the marketing budget unchanged.

International growth and warehouse execution

On international expansion of third-party (partner) brands, management referenced materials “in the pack” and said overseas growth in third-party brands is around 22%. It attributed much of this to improved selection in key brands, as well as some partner brands newly agreeing to list products on NEXT’s overseas websites where they had not previously.

Questions also addressed warehouse capacity and service levels. Management said that since Christmas, “not delivered in full and on time” rates have improved from around 8% to around 6%, and at one point reached about 5%. While it said it was cautious about highlighting the improvement given it has only been evident for a few weeks, management described the trend as encouraging and did not see anything in the year’s numbers suggesting the company would be unable to maintain performance.

Management highlighted execution factors it believes will matter to sustaining improvements, including effective deployment of new mechanization and the ability to replenish forward warehouse locations from off-site reserve warehouses. It acknowledged a small risk of misallocating inventory between reserve and forward stock but said it was not a major concern and expressed confidence in continued year-on-year improvement based on current performance.

On options to reduce U.K. capacity pressure by shipping more inventory directly to international hubs, management said it is not currently delivering direct to Germany, primarily because third-party logistics costs are expensive, and the company aims to operate with about six weeks of cover in that context versus a normal 12–14 weeks. However, it said direct delivery could be an option if capacity becomes an issue. Management also cautioned that direct delivery is difficult beyond roughly 20%–25% of anticipated demand due to uncertainty about which items will sell in specific territories.

In the Middle East, the company said it is delivering direct, but noted an execution setback: its first cargo ships from the Far East that departed four to five weeks earlier were recently turned back from Dubai, which management characterized as “a great plan implemented at exactly the wrong time.” Looking ahead, it said the plan would be to deliver around 20% of Middle East requirements direct from manufacturer.

AI, customer retention discipline, and shifts in sizing mix

On AI, management said it is not “overly concerned” about disintermediation risk at present and framed the main potential threat as disintermediation of the retail website rather than other parts of the value chain. It argued that online clothing retail’s key assets are logistics infrastructure and product rather than the website itself.

Management also raised economic and operational hurdles to an AI-driven “intermediary” shopping model that consolidates purchases across multiple retailers. It cited the cost of delivery relative to average order value (net of returns) and said splitting orders across several retailers would multiply delivery costs. It also emphasized complexity around returns—particularly how consumers would return items from multiple vendors and how refunds would be processed—describing “big customer service issues.” In contrast, it pointed to Google’s approach of directing consumers to individual retailers as an “enhanced form of advertising,” which it suggested could benefit industry demand by improving search and product discovery.

In the U.K., management was asked about strong customer acquisition and whether performance reflected gross additions or retention. It stressed that its philosophy is that “everything’s got to make a profit” and said it is not prepared to spend unprofitably to “hang on” to customers. Retention programs are performing in line with last year, though management said it is too early to draw firm conclusions given last year’s strong weather and competitive disruption have not yet been fully annualized.

Finally, on GLP-1s and sizing trends, management said it has seen subtle changes in womenswear sizing mix, with the most dramatic change in the very large outsize segment. It said participation in sizes “22+” is “definitely falling,” while emphasizing that these participations are “tiny.”

About NEXT (LON:NXT)

Founded as a tailoring business in Leeds in 1864 by Joseph Hepworth and Son, today, the company offers clothing, footwear, accessories, beauty and home products to our UK and International customers. NEXT has over 500 stores in the United Kingdom and Eire, and over 180 franchise branches across Europe, Asia and the Middle East. The company's main divisions are NEXT Online, NEXT Retail and NEXT Finance. We also launched Total Platform, an online, distribution, tech and logistics solution, in 2020.

The article "NEXT H2 Earnings Call Highlights" was originally published by MarketBeat.

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Shares in the group—regarded as a bellwether for U.K. retail—rose more than 5% despite the group warning that the Iran war could affect costs, prices and consumer demand.

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Zusammenfassung

Dieser Artikel von Simply Wall St analysiert die Investitionsaussichten für NEXT (LSE: NXT), einen britischen Einzelhändler. Der Schwerpunkt der Analyse liegt auf unterschiedlichen Meinungen von Analysten hinsichtlich der zukünftigen Bewertung des Unternehmens. Berenberg Bank hat den Kursziel für NEXT von £17.800 auf £18.000 erhöht, was eine bullische Sichtweise aufgrund der aktuellen Geschäftsführung und der Annahme weiterer Aufwärtspotenziale widerspiegelt. Andere Analysten äußern jedoch Vorsicht und weisen auf eine erhebliche Diskrepanz zwischen dem höheren Kursziel (£18.000) und der fairen Bewertung des Unternehmens (£147,44) hin. Diese Diskrepanz deutet darauf hin, dass ein beträchtlicher Teil zukünftigen Wachstums bereits in den Aktienkurs eingepreist ist.

Der Artikel betont die Bedeutung, mehrere Perspektiven bei der Bewertung einer Aktie zu berücksichtigen. Analysten-Kursziele sind nur ein Teil des Puzzles, und es ist entscheidend, die zugrunde liegenden Annahmen und potenziellen Risiken zu verstehen. Das von Simply Wall St verwendete Bewertungsmodell beinhaltet mehrere wichtige Annahmen, darunter ein Umsatzwachstum von 6,63 %, eine Nettogewinnmarge von 12,96 % und einen Abzinsungssatz von 9,16 %. Es wurden geringfügige Anpassungen an dem KGV-Multiplikator und dem Abzinsungssatz vorgenommen, aber der Gesamt-Fair-Value-Schätzwert bleibt unverändert bei £147,44.

Aktuelle Nachrichten umfassen die Genehmigung der Gesellschafter zur Änderung der Satzung von NEXT sowie ein potenzieller Übernahmeschwur für LK Bennett Fashion Limited. Darüber hinaus hat NEXT seine Gewinnprognose für die kommenden Geschäftsjahre überarbeitet und höhere Umsätze und Gewinnbeteiligungen erwartet.

Der Artikel hebt die Rolle von "Geschichten" hervor, um die Aussichten eines Unternehmens zu verstehen. Geschichten verbinden die Geschäftsgeschichte eines Unternehmens mit Erwartungen an zukünftige Erträge und Cashflows und bieten eine dynamische Perspektive auf die Anlagestrategie. Zu den bei der Analyse zu berücksichtigenden Schlüsselfaktoren gehören die Expansion von NEXT in internationale Märkte, Investitionen in Technologie und Automatisierung sowie potenzielle Risiken wie schwache Einzelhandelsumsätze, Margendruck und Herausforderungen im Zusammenhang mit Lagerbetriebsabläufen.

Simply Wall St betont, dass seine Analyse auf historischen Daten und Analystenprognosen basiert und eine unvoreingenommene Methodik verwendet. Es ist wichtig zu beachten, dass dies keine Finanzberatung ist, und die Leser sollten ihre eigene Due Diligence durchführen. Der Artikel macht außerdem deutlich, dass Simply Wall St keine Position in Aktien hält, an denen dies diskutiert wird.