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New Look quarterly profits soar by 38.4%

New Look has reported a 38.4% rise in operating profits to £43.6m for the 13 weeks to June 28, as the sale of full-price clothing increased.

Group revenue was up by 8.1% to £392.5m for the period, while UK like-for-like sales increased by 11.6%. Online sales soared by 39.2% during the 13 weeks.

The company said good weather, strong sell-throughs and capitalising on key trends, including kimonos and printed trousers, had led to a good start to the second quarter, although it remains “watchful of the consumer environment”.

Anders Kristiansen, chief executive of New Look, said: “The great customer reaction to our summer product ranges has allowed us to maximise full-price sales, while the improved flexibility in our supply chain means that key ranges have remained fully stocked.

“By the end of the quarter we had 286 concept stores globally, leaving us well placed for the year ahead.”

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