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New Look grows UK sales over Christmas

Value fashion chain New Look grew total UK sales by 4% over the Christmas trading period.

Like-for-like sales in the 14 weeks to December 29 were up 3.7% and while total group sales - which includes their presence in France, Ireland, Russia and Bahrain - climbed 4.5%.

New Look’s online sales rocketed up more than 50% on the same period last year.

The value retailer “significantly” improved its gross margins, as stock management led to lower levels of markdown and promotional activity.

Chairman Alistair McGeorge said: “The group has delivered an excellent result in a challenging trading environment, and this performance is a testament to the success of our recovery programme and the strength of our brand.”

Although McGeorge said he expected the economic outlook to remain challenging, he was optimistic New Look would retain its “positive momentum”.

Anders Kristiansen, previously chief executive of Bestseller Fashion Group, starts today (January 7) as chief executive, concluding nearly a two-year search.

 

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