Next (retailer)

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NEXT Group PLC

Type	Public (LSE: NXT)
Founded	1982
Headquarters	Leicester, United Kingdom
Industry	Clothing Retail
Products	Clothing, accessories
Revenue	£3,106.2 million GBP (2006)
Operating income	£470.7 million GBP (2006)
Net income	£313.5 million GBP (2006)
Employees	57,454 (2006)
Website	www.next.co.uk

Next on Oxford Street

Next PLC is a British clothes retailer, with its headquarters in Enderby, Leicestershire, England. It is one of the United Kingdom's largest clothing retailers, number three behind Marks & Spencer and Philip Green's retail empire of Bhs and Arcadia Group. The group has over 400 stores throughout the UK and the Republic of Ireland, and 50 franchise branches in Europe, Asia and the Middle East. These are located at a mixture of high streets, shopping centres and retail parks.

In the year to January 2006 Next's turnover was £3,106.2 million. Profits were £449.1 million before tax and £313.5 million after tax.[1]

1 History
2 Subsidiaries of Next
3 Next Sales
4 References

[edit] History

Next was founded in 1981 when J Hepworth & Son, a tailor in Leeds, bought Kendall & Sons Ltd, a Leicester based rainwear and ladies fashion company from Combined English Stores, to redevelop as a womenswear chain of shops called NEXT (Next PLC in turn took over Combined English Stores in 1987). Terence Conran, owner of the chain, chose the retailer George Davies to head the new store. The first store was opened on 12th February 1982, and by 1984 all 80 of Kendall's stores had been converted to Next.

The same year (1984), the Hepworth's stores began to be converted to Next for Men. Later Next began to develop mini department stores selling women's, men's and children's clothes as well as furniture under the one roof. In 1986 Next moved its head office from Leeds to Leicester and in the same year had purchased the catalogue company Grattan. This was later sold to Otto Versand in 1991 when Next encountered financial problems related to a recession. Some branches were sold to other retailers to avoid administration.

Stand alone furniture shops called NEXT Home were opened in 2003. Next also sells around 21% of its merchandise through the Next Directory, a home shopping catalogue launched in 1988. All Next stores only sell their own brand label although recently some small scale branded products have been seen such as trainers from Gola and Morphy Richards electrical goods. Currently the largest branch of Next is the branch in the Manchester Arndale Centre that opened in October 2005.

Next produces a magazine called the Faith Restorer for employees which includes new store openings, praise and compaints received throughout the company. The magazine also includes company news and contributions from employees.

[edit] Subsidiaries of Next

Other than the core Next retail chain and the directory Next also own subsidiaries including:

There are a number of stores owned by Next known as Next Clearance which sell previous seasons stock at lower price then at the core Next stores.
In late September 2006 Next opened 3 new stores called Lime these stores sell refurbished previous seasons stock under the label of Lime. The first three branches opened in former Next locations which have moved to other premises in Derby, Nottingham and Newbury with other stores opening in the near future, including the Isle of Man, Llandudno in January 2007 and in the near future, Wigan. It was setup primarily as competition for low cost competitors such as Primark, TK Maxx and the clothing operations of supermarkets such as Tesco, ASDA and Sainsbury's. [2]
Next own the call centre operator of Ventura. [3]

[edit] Next Sales

Next discount sales are very popular events usually occurring four times a year, two at the end of seasons and two mid-season. In-store preparation for the sales start the night before, and it has been known for staff to work until 3-4 am in the morning getting the shop ready. Likewise queuing for the sales starts early with people arriving at times as early as 3.30 am to wait for the store to open at 5 am. Sales involve most of the store staff and extra temporary staff are usually hired as well to cope with demand. On a sale day, most staff usually work in 9 hour shifts.