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New Look like-for-like sales up 1.5% over Christmas

High street fashion retailer New Look has reported a 1.5% increase in UK like-for-like sales over the Christmas trading period after seeing a strong full price sales performance.

GENERAL MERCHANDISE

New Look like-for-like sales up 1.5% over Christmas

High street fashion retailer New Look has reported a 1.5% increase in UK like-for-like sales over the Christmas trading period after seeing a strong full price sales performance.

In the seven weeks to 28 December 2013, total UK sales rose 2.9% while total sales across the New Look Group increased by 2.6%.

E-commerce sales surged by 62% with own website sales rising by 48%. Around a quarter of all orders were via click and collect.

The retailer said its gross margin had also risen due to a stronger full price sales mix.

Commenting on the Christmas trading, New Look chief executive Anders Kristiansen said: “New Look has performed well over this period. After a difficult start to the quarter, on account of an unseasonably warm October, trading returned to more normal levels. However, the festive trading window was smaller this year, with customers delaying purchases in order to seek out the best promotions before Christmas.

“In spite of the backdrop of extensive Christmas discounting across the High Street, our stronger full price sales performance ensured that we were able to protect our margin - a central component of our strategy - and we also saw our market share grow.

“We are optimistic about the year ahead but remain watchful of the pace of recovery in the UK economy and the continued pressures facing our customers.”

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