Next (NXT)

Sector:

Retailers

Index:

FTSE 100

11,105.00p
   
  • Change Today:
      20.00p
  • 52 Week High: 11,255.00p
  • 52 Week Low: 8,674.00p
  • Currency: UK Pounds
  • Shares Issued: 123.08m
  • Volume: 473,028
  • Market Cap: £13,668m
  • RiskGrade: 153

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.

Email this article to a friend

or share it with one of these popular networks:


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 11,105.00p
Change Today 20.00p
% Change 0.18 %
52 Week High 11,255.00p
52 Week Low 8,674.00p
Volume 473,028
Shares Issued 123.08m
Market Cap £13,668m
RiskGrade 153

Next Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
18.13% below the market average18.13% below the market average18.13% below the market average18.13% below the market average18.13% below the market average
22.22% below the sector average22.22% below the sector average22.22% below the sector average22.22% below the sector average22.22% below the sector average
Price Trend
84.50% above the market average84.50% above the market average84.50% above the market average84.50% above the market average84.50% above the market average
94.44% above the sector average94.44% above the sector average94.44% above the sector average94.44% above the sector average94.44% above the sector average
Income
32.7% below the market average32.7% below the market average32.7% below the market average32.7% below the market average32.7% below the market average
30% below the sector average30% below the sector average30% below the sector average30% below the sector average30% below the sector average
Growth
19.46% below the market average19.46% below the market average19.46% below the market average19.46% below the market average19.46% below the market average
11.11% above the sector average11.11% above the sector average11.11% above the sector average11.11% above the sector average11.11% above the sector average

What The Brokers Say

Strong Buy 5
Buy 4
Neutral 11
Sell 1
Strong Sell 0
Total 21
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Next Dividends

  Latest Previous
  Final Interim
Ex-Div 03-Jul-25 05-Dec-24
Paid 01-Aug-25 03-Jan-25
Amount 158.00p 75.00p

Trades for 01-Apr-2025

Time Volume / Share Price
16:11 0 @ 11,145.00p
16:07 0 @ 11,130.00p
16:07 0 @ 11,140.00p
16:06 0 @ 11,130.00p
16:06 0 @ 11,140.00p

Next Key Personnel

CEO Wolfson Aspley Guise
Chair Michael J Roney
CFO Jonathan Blanchard

Top of Page