Friday, February 22, 2019

New Look report strong sales figures in ‘volatile‘ environment


New Look have published excellent sales figures for its latest trading period as the company took advantage of the warm summer weather.

Group sales were up 4.9 per cent and group like-for like‘s saw an increase of 0.3 per cent in the second quarter.

Anders Kristiansen, Chief Executive Officer, said the company‘s disciplined attitude to cost and stock management has enabled it to make further progress in a volatile trading environment.

He said: “We are very encouraged by New Look‘s robust trading performance in the period, in spite of the coldest spring for 50 years. We are confident that the improvement to our ranges, the refurbishment of our stores and our growing online strength will underpin further progress.”

The results will boost New Look which is continuing to grapple with its reported £1.1bn debt that was accumulated under private-equity ownership and has critical repayments due in 2015.

The group which has 600 stores in the UK and more than 2.5 million visits to its website also increased its online sales by 78.7 per cent.