Next (NXT)

Sector:

Retailers

Index:

FTSE 100

9,512.00p
   
  • Change Today:
    136.00p
  • 52 Week High: 10,515.00
  • 52 Week Low: 7,730.00
  • Currency: UK Pounds
  • Shares Issued: 124.96m
  • Volume: 201,796
  • Market Cap: £11,886m
  • RiskGrade: 153
  • Beta: 0.97

Next shop workers win landmark equal pay case

By Josh White

Date: Tuesday 27 Aug 2024

LONDON (ShareCast) - (Sharecast News) - Shop workers at high-street retailer Next won a landmark legal victory on Tuesday, after a six-year battle for equal pay, potentially leading to over £30m in compensation.
The employment tribunal's decision would affect 3,540 claimants, predominantly female retail sales staff, who argued they were paid less than their primarily-male counterparts in the warehouse.

According to the Guardian, Next defended the pay discrepancy by citing "market rates" and the need to attract warehouse staff around the clock, including nights, Sundays, and public holidays.

While the tribunal acknowledged the company's cost-cutting motivations and found no direct gender discrimination, it ruled that Next failed to justify the lower pay rates for retail workers.

The tribunal emphasised that financial reasons alone could not excuse unequal pay under the law.

The decision could have far-reaching implications, setting a precedent for similar claims against major UK supermarkets.

Over 112,000 store staff from Asda, Tesco, Sainsbury's, Morrisons, and the Co-op were currently pursuing comparable cases, which could now gain momentum following the Next ruling.

Next, which reported £918m in pre-tax profits for 2023, reportedly planned to appeal the decision.

The ruling mandated the equalisation of hourly pay, back pay compensation, and paid rest breaks for retail staff, aligning their benefits with those of warehouse employees.

Reporting by Josh White for Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Next Market Data

Currency UK Pounds
Share Price 9,512.00p
Change Today 136.00p
% Change 1.45 %
52 Week High 10,515.00
52 Week Low 7,730.00
Volume 201,796
Shares Issued 124.96m
Market Cap £11,886m
Beta 0.97
RiskGrade 153

Next Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
77.55% below the market average77.55% below the market average77.55% below the market average77.55% below the market average77.55% below the market average
70.73% below the sector average70.73% below the sector average70.73% below the sector average70.73% below the sector average70.73% below the sector average
Price Trend
72.17% above the market average72.17% above the market average72.17% above the market average72.17% above the market average72.17% above the market average
71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average
Income
17.62% below the market average17.62% below the market average17.62% below the market average17.62% below the market average17.62% below the market average
20% below the sector average20% below the sector average20% below the sector average20% below the sector average20% below the sector average
Growth
53.46% above the market average53.46% above the market average53.46% above the market average53.46% above the market average53.46% above the market average
90.48% above the sector average90.48% above the sector average90.48% above the sector average90.48% above the sector average90.48% above the sector average

What The Brokers Say

Strong Buy 2
Buy 4
Neutral 11
Sell 1
Strong Sell 1
Total 19
neutral
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Next Dividends

  Latest Previous
  Interim Final
Ex-Div 05-Dec-24 04-Jul-24
Paid 03-Jan-25 01-Aug-24
Amount 75.00p 141.00p

Trades for 21-Nov-2024

Time Volume / Share Price
15:20 0 @ 9,460.00p
16:29 1 @ 9,514.00p
16:29 18 @ 9,514.00p
16:29 3 @ 9,514.00p
16:29 42 @ 9,512.00p

Next Key Personnel

CEO Wolfson Aspley Guise
Chair Michael J Roney
CFO Jonathan Blanchard

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