THE RETAIL BULLETIN - The home of retail news
Click here
Home Page
News Categories
Commentary
Department Stores
Electricals and Tech
Entertainment
Fashion
Food and Drink
General Merchandise
Grocery
Health and Beauty
Home and DIY
Interviews
People Matter
Retail Business Strategy
Property
Retail Solutions
Electricals & Technology
Sports and Leisure
Christmas Ads
Shopping Centres, High Streets & Retail Parks
Retail Events
People in Retail Awards 2024
Retail HR Central 2024
The Future of The High Street 2024
Retail HR Summit
THE Retail Conference
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
New Look first half revenue down 4.2%

Fashion retailer New Look has seen its revenue decline by 4.2% to £656.9 million in the first half its financial year as it works through its… View Article

FASHION RETAIL NEWS UK

New Look first half revenue down 4.2%

Fashion retailer New Look has seen its revenue decline by 4.2% to £656.9 million in the first half its financial year as it works through its turnaround plan.

New Look brand like-for-like sales declined by 3.7% although adjusted EBITDA increased to £49.8 million from £24.2 million in the previous year as the retailer benefited from cost savings.

Meanwhile, New Look made an underlying operating profit of £22.2 million in the period compared to a prior loss of £10.4 million.

Alistair McGeorge, New Look executive chairman, said: “I am encouraged by our performance in the first half of the year, which reflects the progress we are making with our ongoing turnaround plans to rebuild our position in the UK womenswear market.

“As we look to the second half, our focus will be to continue to improve our financial and operational stability and further capitalise on our brand strength to position us well for the future.”

New Look said sales and profitability had improved within its main womenswear categories although trading in the footwear and accessories remained challenging.

The retailer has also said that it may close up to 100 stores as it looks to save on costs and improve profitability. In March New Look announced that it would close 60 stores but has now said that this has risen to 85 and that talks are continuing with a further 13 stores.

 

Subscribe For Retail News