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NEXT

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Company details
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Name: NEXT
Ticker: NXT
Sector: Apparel Retailers
Index: 3%
Date joined: 24-Dec-12
EO %: 4.0
Accounts: Jan-13
Revenue (£m): 3560.0
Employees: 28300
Website: www.nextplc.co.uk
Ownership Attributes
Employees - individually %:
Employees - through a trust %:
Directors %:
External shareholders %:
SAYE (Yes/No): Yes
SIP (Yes/No):
CSOP (Yes/No):
EMI (Yes/No):

Company description

Next plc is a United Kingdom based retailer offering products in clothing, footwear, accessories and home products. The Company distributes through three main channels: NEXT Retail, a chain of more than 500 stores in the United Kingdom and Eire; NEXT Directory, a home shopping catalogue with over three million active customers and Websites serving around 60 countries, and NEXT International, with almost 200 mainly franchised stores globally. Its other business include NEXT Sourcing, which designs, sources and buys NEXT branded products, and Lipsy, which designs and sells its own branded younger women's fashion products.

Employee ownership description

NEXT has probably been more than 3% employee owned for a number of years but only entered the 3% index in December 2012 following definitive evidence of the presence on the share register of an employee share ownership trust which appears to feed all-employee share schemes rather than just executive share schemes. Approximately 6,800 NEXT employees held options over a total of 9.2 million shares in NEXT plc at January 2012, being 5.5% of the total shares in issue. This covers both a Sharesave scheme and a management share option plan, which is primarily aimed at middle management and senior store staff. NEXT has operated a Sharesave scheme for many years, where all employees have the opportunity to save money over three, five or seven years to buy NEXT plc shares on favourable terms. At the end of January 2012, there were around 6,300 employees (representing around 12% of total employees) participating in the Sharesave scheme. An employee share ownership trust ( ESOT ) has purchased shares in the market and issues them to employees when options are exercised. By sourcing shares for employee share schemes from market purchases, the company maintains a substantial level of employee ownership without causing excessive dilution. As at January 2012, the ESOT held 5.6 million shares, representing around 4% of the issued ordinary share capital, the voting rights of which are exercisable by the Trustee. The ESOT was the fourth largest shareholder in the company in January 2012. The ESOT shareholding remained above 3% throughout 2012 and currently stands at 4.21% as at 28 December 2012.

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