New Look sees Christmas sales boost
Budget fashion retailer New Look has reported a 3.6% increase in UK like-for-like sales in the five weeks to end December.
However, like-for-like sales fell 3.7% across the 40 weeks to 31 December compared with the same period a year earlier. Total sales excluding VAT were down 1.7% in the period.
Alistair McGeorge, executive chairman of New Look said: “Our recent performance demonstrates that our hard work is beginning to pay off and we are pleased that both sales and profitability are responding positively.”
He continued: “We are nevertheless mindful that we are operating against a backdrop of a tough and potentially worsening economic climate and remain cautious about the outlook for the next few months.”
The chain is owned by private equity firms Apax and Permira.
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