{"id":163398,"date":"2020-11-16T16:17:05","date_gmt":"2020-11-16T16:17:05","guid":{"rendered":"https:\/\/www.theindustry.fashion\/next-ceo-simon-wolfson-sells-more-than-10-million-worth-of-shares\/"},"modified":"2021-08-06T12:09:05","modified_gmt":"2021-08-06T12:09:05","slug":"next-ceo-simon-wolfson-sells-more-than-10-million-worth-of-shares","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/next-ceo-simon-wolfson-sells-more-than-10-million-worth-of-shares\/","title":{"rendered":"Next CEO Simon Wolfson sells more than \u00a310 million worth of shares"},"content":{"rendered":"<p><strong><a href=\"https:\/\/www.theindustry.fashion\/intelligence\/next\">Next<\/a> Chief Executive Officer Simon Wolfson has sold over \u00a310 million worth of shares in the fashion retailer,<\/strong> in response to a strong recovery in its share price since March 2020.<\/p>\n<p><strong>Wolfson sold 150,000 shares at \u00a367.87 each<\/strong>, having made a similar disposal last year.<\/p>\n<p>The company said that the share sale <strong>allows Wolfson \u201cto spread his investments in other non-retail areas\u201d.<\/strong> He still retains a significant shareholding, worth more than \u00a380m at current prices, in the retailer.<\/p>\n<p>Shares were down 2% in early afternoon trading after the announcement.<\/p>\n<p>Last month, Next revealed better-than-expected sales over the summer, with<strong> strong trading in children\u2019s clothing and homeware products.<\/strong><\/p>\n<p>The company said it <strong>now expects pre-tax profits for the year to hit \u00a3365m \u2013 \u00a365m<\/strong>\u00a0<strong>more than first expected \u2013<\/strong> with net debt forecast to fall by \u00a3487m to \u00a3625m.<\/p>\n<p>The company also reported a worry for the UK lockdown, previously reporting: \u201cA two-week lockdown in England, Scotland and Northern Ireland in November would reduce retail full-price sales by around \u00a357m (depending on timing).\u201d<\/p>\n<p>\u201cWe have <strong>found no evidence of the virus being transmitted in our stores,<\/strong> nor are we aware of any studies that suggest clothing and homeware retail presents a significant risk of infection.\u201d<\/p>\n<p><a href=\"https:\/\/www.theindustry.fashion\/podcasts\/\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-143937 size-full\" src=\"https:\/\/www.theindustry.fashion\/wp-content\/uploads\/Podcast-add.png\" alt=\"\" width=\"1930\" height=\"282\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p> [&hellip;]<\/p>\n","protected":false},"author":49,"featured_media":143046,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[10585,6,10494],"tags":[11222,3683,35,16500,10259,16499],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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