Edmund Shing explains why despite the recent share slump for Next due to their poor Christmas sales, now is a great time to invest in the UK retailer. Here are five things you need to know about Next.

1) Next is a FTSE 100 company (code: NXT) and a clothing retailer.

2) It targets young professions primarily and has a strong record of growth not only from its high street stores, but it's Next directory catalogue and its online presence.

3) It has suffered over Christmas due to warmer weather causing a shortfall in winter wear sales such as coats and boots.

4) But this is likely to be only a temporary hiccup, as due to it successful history this company in the long-term is primed for growth.

5) This is a good value stock with an income yield of 4.7% (as of 7 January).

Edmund Shing is Global Head of Equity Derivative Strategy at BNP Paribas in London. He holds a PhD in Artificial Intelligence.