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Date : Contacts : Embargoed until 07.00hrs , Tuesday 5 January 2021 Amanda James , Group Finance Director ( analyst calls ) NEXT PLC Alistair Mackinnon - Musson Rowbell PR Photographs : Tel : 0333 777 8888 Email : next@rowbellpr.com Tel : 020 7717 5239 http://www.nextplc.co.uk/media/image-gallery/campaign-images next PLC - Trading Statement – 5 January 2021 HEADLINES Full price sales in the nine weeks to 26 December were down -1.1 % on last year and much better than our central guidance of -8 % , given in our October Trading Statement . After accounting for the benefit of better sales in November and December and anticipated losses from store closures in January , full year profit before tax is forecast to be £ 370m¹ before two additional non - recurring items . A non - recurring profit of + £ 12m from a 53rd week , along with an additional property provision of - £ 40m ( see page 6 ) , mean that total full year profit before tax is forecast to be £ 342m . Year end net debt is forecast to reduce by £ 487m to £ 625m . For the year ahead ( 2021/22 ) our central guidance , which assumes our Retail stores will be closed in February and March , is for profit before tax of £ 670m , based on full price sales being flat versus two years ago ( i.e. 2019/20 ) . FULL PRICE SALES TO 26 DECEMBER In the nine weeks to 26 December , the sales gained in our Online business compensated for almost all those lost in Retail stores , with total product full price sales down just -0.5 % . The table below sets out the full price sales performance by business channel versus last year for the fourth quarter , second half and year to 26 December . Full price sales ( VAT exclusive ) Online UK Online Overseas Online total Fourth quarter to 26 December Second half to 26 December Year to 26 December + 36 % + 30 % + 9 % + 43 % + 31 % + 13 % + 38 % + 30 % + 10 % - - 43 % -30 % - 46 % - 0.5 % + 1.8 % - 16.5 % Finance interest income - 13 % - 13 % - 8 % Total full price sales including interest income - 1.1 % + 0.9 % - 15.9 % Retail Product full price sales 1 Profit before tax is quoted on a 52 - week basis . The financial information presented in this document does not reflect the impact of IFRS 16 Leases . 1