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Finance and accounting : PLC report - Essay Example

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NEXT PLC EXECUTIVE SUMMARY NEXT Plc has been among the renowned fashion brands offering reasonably priced women wear, men wear, kids and home wear to wide range of customers within and outside UK. NEXT Plc has been in business since 150 years and over the years, it has managed to expand its offerings as well as updating existing products with enhanced value…
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Finance and accounting essay: PLC report
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Finance and accounting : PLC report

Exploring the impact from the global conditions on the performance of company being highly effective on firm understudy the report also assessed the future prospects for NEXT brand. The assessment upon developing concluding remarks suggests recommendations for business to maintain success. Recommendation includes business suggestion to expand with premium brand and adopting acquisition strategy and efforts to enhance value to gift line and sports. Table of Contents EXECUTIVE SUMMARY 1 Table of Contents 2 MANAGING THE ORGANISATION 5 The Financial Statements and Current Performance 5 Company Performance Comparison with Industry and Sector 8 The Impact of the Global Economy 12 Future Prospects of the Company 14 CONCLUSION 14 RECOMMENDATION 15 List of References 16 Appendix 18 INTRODUCTION NEXT has been in the business for around 150 years. Group in 1982 revolutionized business and created the brand NEXT. The brand put forward the retailing business for NEXT corporate with collections of branded women wear and accessories. NEXT Plc offered affordable line of offerings with distinctive styled products. Over years NEXT expanded the range to men wear in 1984; home interiors line has been introduced in 1985; children wear were introduced in 1987; in 1988 Next Directory was introduced offering range of products for home shopping. In 1999 NEXT has launched online shopping version entitled NEXT Directory. This expansion credited NEXT Plc pioneer among the businesses offering sales services from triple modes i.e. from shops, by phone and then online. NEXT started day delivery standard and transferred almost 80% of the business online by 2001. NEXT Plc then launched ‘NEXT flowers’ followed by launch of ‘NEXT gift line’ in the year 2005 (Next, 2012). Continuing with affordable offerings with distinguished style, NEXT Plc has expanded signature brand in 2007 offering homeward and fashion. 2010 noted NEXT’s launch of NX Sports and then became official staff ware and other textile supplier for the Olympics Athletes Village (Next, 2012). Next Plc currently has 540 stores in UK while NEXT Directory is serving almost 60 counties of the world with majority of them being served directly and 14 countries being served through six partners. Success of NEXT can be gauged with fact that only NEXT Directory has 3.3 million active customers. NEXT Plc international has 170 stores in around 33 countries operated through franchise business. Brand also has 19 company owned stores in 7 countries (Next, 2012). Other areas of operation includes NEXT Sourcing, the segment responsible for designing, sourcing, buying, merchandising and quality control operations of Next Plc products. NEXT Sourcing has operation in UK as well as China, Sri Lanka, India and Hong Kong. In 2008, Next has also acquired fashion brand which is targeting younger women entitled Lipsy and the firm also generates business through property management (Next, 2012). Figure 1 shows the share of business and profits in segments of business in all of Next Corporation for the year 2013. Share price of NEXT Plc has been trading at ? 43.36 as on 11/04/2013 with market capitalization ? 6.99 billion (Next, n.d). Share price performance of Next Plc in comparison with FTSE and general retailer has been shown in the figure 2 in appendix section. With comprehensive introduction of the ... Read More
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