NEXT Plc. Business Report (financial and non-financial indicators)
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NEXT Plc. is UK-based retail Network Corporation offering fashionable and exquisite clothing, accessories, footwear, and home products of high quality level. The market covers the regions of Europe, the Middle East, and Asia. The products’ assortment satisfies the potential individual needs of men, women and children, and it also provides high-quality products for home use. There are three major distribution channels for NEXT: NEXT Directory including a shopping catalogue distribution and a website branch with 3 million active customers (with international website versions), NEXT Retail including around 500 stores both in the UK and Eire, and NEXT International that includes around 200 franchised stores offering NEXT products throughout the world. Additional business groups are NEX Sourcing that is responsible for design, sources and purchases of the branded products, and Lipsy that is responsible for younger women’s clothing and accessories design, sales via Internet and retail network and wholesale channels (NEXT Corporate 2009).
The headquarters are located in Enderby, UK. The network of NEXT is quite developed in Ireland, and the stores outside the UK or Ireland are franchises (except for Copenhagen store). The largest branch is in Manchester, and a new store that has been bought from Focus DIY was supposed to be opened in summer 2012.
The Company’s vision: the major focus of NEXT Plc. Corporation that is fixed in their mission statement is to provide the customer with the best products that are characterized by exquisiteness, uniqueness, and open-mindedness (NEXT Corporate 2012). NEXT Plc. Corporation is ready to involve innovative tools, use long-term experience in the market and creatiivity to develop further for the benefit of the customer. The customer is set as the foremost priority, and his or her satisfaction is the central goal that the Company sets for itself. NEXT mission is to remain the ‘natural choice’ leader in clothing retail sales for clients who appreciate style, fashionable details, individualism and quality in clothing products (NEXT Corporate 2009).
The global strategy for 2012-2013 remains the same as in the previous decade: pay as much attention as possible to the quality, value and design exquisiteness of NEXT products that are accompanied by fast delivery and convenient customer service. In spite of the current recessionary period that is justified by multiple factors (including current economic recession, customers’ credit problems, no wage growth and lack of financial stability) NEXT believes that this strategy will help to recover from the slight downfall of the volume of sales in the UK.