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New Look celebrates Christmas sales growth

New Look said like-for-likes in the UK rose 5.9% over the 14 week period to January 2.

Total turnover at the fast fashion retailer during the period, including overseas operations, jumped 14.4%.

New Look, which is considering an IPO this year, said it maintained margins and grew share in core categories to become the UK’s second biggest force by value in total womenswear - which includes clothing, accessories and footwear - in which it has a 5.6% share.

It also claimed a 3.4% online fashion market share.

New Look chief executive Carl McPhail said: “We have had another successful Christmas, growing sales and profitability in the face of difficult market conditions.

“Our business has undergone significant transformation in recent years to become today a leading fashion retailer with a great brand.

“Looking ahead, while we remain cautious about consumer spending and expect sentiment to remain subdued, we are well placed to continue growth and build, upon our success.”

New Look, which is backed by private equity firms Apax and Permira, is understood to be considering a £1.7bn IPO. Last month JP Morgan Cazenove, Deutsche Bank and Credit Suisse were appointed to advise and former Tesco director John Gildersleeve was named chairman.

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