Questor share tip: It's time to take profits from fully-valued Next Store sales fell 3.9pc in the 13 weeks to April 28, hurt by the recent bad weather. This was slightly worse than consensus expectations. Next Directory sales were slightly better than the City had pencilled in, rising 11.4pc. So, overall, sales rose 1.4pc. For the full-year, management forecasts pre-tax profit in the £560m to £610m range, which is in line with expectations. Everything is looking positive for the group, but the shares are like Next clothing - good quality, but certainly not cheap. They are trading on a January 2013 earnings multiple of 11.1 times, falling to 10.1. The rating is about 6pc higher than the wider UK sector. The company will need to continue to deliver to maintain this rating - whatever shocks happen to the wider economy. The retail sector has already derated over the past month. There is no doubt that Next is a well-run, quality business. But Questor feels the shares are up with events and profit should be taken as they present themselves. Indeed, consensus in the City appears to be that this is the case with the average price target on the shares from the 22 City analysts monitored by Bloomberg is £29.98 - a few pence above the current price. Last tipped on January 5 at £26.40 they were first tipped on January 6 2010 at £21. The shares are now a sell.