Clothing retailer Next met forecasts for quarterly sales, with a weak performance from its stores offset by strong trading at its Directory home shopping business.
Next said that total sales were up 1.4% in the 13 weeks to April 28, its first quarter.
Retail sales fell 3.9%, compared to forecasts in a range of flat to down 5%.
Sales at its Directory online and catalogue business were up 11.8% compared to forecasts of a 10-15% rise.
Next's stores were up against tough comparative numbers as last year's first quarter was boosted by an exceptionally warm Easter and a Royal Wedding. Second-quarter comparatives are less demanding.
"There has been little change in our product costs, gross margins or selling prices in the first quarter and we expect this to continue into the second quarter," it said.
Next maintained guidance issued in March and said first-half profit should be ahead of last year. It is budgeting for total sales to be up 1-4% in its first half, with retail sales in a range of flat to down 3%, and Directory sales up 9-12%.
It is also budgeting for 2011/12 sales growth of 1-4% and a pre-tax profit of £560-610m sterling.
Next said it now expected earnings per share to rise 6%, up from its previous guidance of 5%.
Many retailers are struggling as consumers grapple with higher prices, muted wage growth and government austerity measures, and worry about job security, a stagnant housing market and fallout from the euro zone debt crisis. Next has generally defied the gloom, helped by its strong online offer and new store openings.
