Next has started on a £169m share buyback programme it signalled in its 5th Aug Q2 results trading statement. The programme commences today (11 Aug 2026) and will run up to and including 16 Sept 2026.
In the Q2 results Next indicated that it was aiming at completing £524m of share buybacks this year – £14m higher than its previous guidance.
So far this year, Next has purchased £355m of shares at an average share price of £127.69, reducing the number of shares in issue by 2.3%.
Next has £169m remaining to spend on share buybacks which is subject to Next achieving a minimum 8% equivalent rate of return (ERR) on the purchase. If they don’t succeed with the buyback, any remaining money would be returned to shareholders via a special dividend or capital return.
