{"id":166268,"date":"2020-04-29T14:07:00","date_gmt":"2020-04-29T14:07:00","guid":{"rendered":"https:\/\/www.theindustry.fashion\/next-cancels-1bn-orders-and-scraps-dividend\/"},"modified":"2021-08-06T12:05:36","modified_gmt":"2021-08-06T12:05:36","slug":"next-cancels-1bn-orders-and-scraps-dividend","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/next-cancels-1bn-orders-and-scraps-dividend\/","title":{"rendered":"Next cancels \u00a31bn orders and scraps dividend"},"content":{"rendered":"<p class=\"responsiveweb__Paragraph-sc-1isfdlb-0 YieBL\">A \u201cfaster and steeper\u201d collapse in retail sales has prompted Next to cancel or delay almost \u00a31 billion worth of stock in addition to scrapping its dividend and share buyback scheme to save costs.<\/p>\n<p><!--more--><\/p>\n<p class=\"responsiveweb__Paragraph-sc-1isfdlb-0 YieBL\">The bellwether retailer warned that it could lose \u00a31.65 billion in sales, about 40 per cent of its usual business, in its revised \u201cworst case scenario\u201d which would drag it to a full-year loss of \u00a3150 million, compared to \u00a3600 million profit last year.<\/p>\n<p>Read the full story on<a href=\"https:\/\/www.thetimes.co.uk\/edition\/business\/next-cancels-1bn-orders-and-scraps-dividend-f82g6f0sr\"><em> The Times<\/em><\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p> [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":135225,"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":[3328],"tags":[3683],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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