Preliminary Q4 2020 Next PLC Earnings Call Transcript
Well, good morning, ladies and gentlemen, and welcome to NEXT's Annual Results Presentation. Before I begin, I'm going to start with a confession. When I went through this presentation with Alistair, our brilliant and slightly overly flamboyant PR guru, he took one look at it and went, "There are far too many numbers here. This could be boring." And there are a lot of numbers in it. We are going to -- we're going to give you more information than we usually do partly because what happened last year requires a lot of explanation but, more importantly, because the economics of the business have changed so much over the last 2 years. But what we think will happen next year requires a bit of explanation, too. And within each of the business divisions, Online, Retail And Finance, I'm going to also go through our projection for next year as well as what has happened in the current year.
So starting with the year just gone. Sales were down 17%. And I should say, all of these slides, all of the numbers you'll see are on a 53- to 52-week basis. That 17
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