THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
New Look posts strong profit rise

New Look has reported an almost £30 million jump in its full-year pre-tax profit.

GENERAL MERCHANDISE

New Look posts strong profit rise

New Look has reported an almost £30 million jump in its full-year pre-tax profit.

The fashion retailer, which was recently acquired by South African investment firm Brait, saw its revenue increase by 3.4% to £1.41 billion in the 52 weeks to 28 March while pre-tax profit rose to £50.6 million from £20.7 million a year earlier.

New Look brand like-for-like sales climbed by 4% with UK like-for-like sales edging up 5%.  

Anders Kristiansen, New Look chief executive, said: "These strong results demonstrate a year of delivery against our strategy. With the support of our new owners Brait, this is a hugely exciting time for New Look, as we continue to focus on our strategic initiatives of brand, multichannel, international expansion, product development and menswear."

While e-commerce sales climbed by 34%, own website sales grew by 30.4%. Some 28% of online orders were picked up in store via click-and-collect with 19% of those customers making a further purchase in-store.

Mobile orders were up 115% with mobile accounting for 45% of all online visits.

New Look continued its international expansion in the period and saw a strong performance in its first year of trading in China. The retailer had 19 stores trading in the country at the year end, and has since opened a further 11 stores in April and May. It also continued its expansion in Europe with openings in France, Poland and Germany.

Kristiansen added: “Internationally, we are making great strides both in Europe and in China. In China, customers have responded positively to our ranges and we see the opportunity for significant growth in the country, with up to a further 50 stores due to open in the coming year.”

Looking at current trading, New Look said it had been pleased with early summer trading. It added: “We will continue to invest in our strategic initiatives, and we are confident that the increasing strength of the New Look brand leaves us well placed for the year ahead.”

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Digitally native competitors and demanding customers are forcing a new perspective in retail. AI and machine learning can help you step up to the challenges; and some ‘small and beautiful’ solutions can increase your conversion rates within just a few weeks.
Payment Roundtable 2019
Payment Roundtable 2019
6 February 2019
The Cavendish Conference Centre, 22 Duchess Mews, London W1G 9DT
The Retail Bulletin Payment Roundtable will raise debate and discussion centred on but not exclusive to improving the in-store payment process