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
KNOWLEDGE CENTRE
PARTNER DATABASE
ABOUT US
CONTACT US
REGISTER

New Look struggles in first half

Fashion retailer New Look’s UK like-for-like sales fell by 8.4% in its first half as the company struggled against a “challenging” retail environment.

FASHION

New Look struggles in first half

New Look brand like-for-like sales dropped by 8.6% in the six months to 23 September while revenue fell by 4.5% to £686 million.

In addition, the retailer has reported an underlying operating loss of £10.4million compared to a profit of £59.3 million in the same period in the previous year.

New Look has announced that Alistair McGeorge has been appointed as executive chairman of New Look with immediate effect.

Danny Barrasso, who was appointed as interim chief executive after Anders Kristiansen stepped down in September, has returned to his previous role of UK & Ireland managing director.

McGeorge said: "I am delighted to return to New Look as executive chairman. The immediate focus in this period of transition will be to deliver stability and get the business back to basics by reconnecting with the New Look customer and recovering our broad appeal.

"Today's results reflect another tough period of trading for the company amid a challenging retail environment on the UK high street. Whilst we're not anticipating a reversal in fortunes overnight, I am confident we will implement the necessary changes to get the company back on track.”

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

GDPR for Marketing Forum 2018
GDPR for Marketing Forum 2018
25th May 2018
Cavendish Conference Centre, London WG1 9DT
Hear how to put your best foot forward as a retail marketeer once GDPR kicks in.
Retail Customer Engagement Summit
Retail Customer Engagement Summit
5 June 2018
Cavendish Conference Centre, London W1
The 9th Annual Retail Customer Engagement Summit
Dentons Future of Retail Law Conference 2018
Dentons Future of Retail Law Conference 2018
14th June 2018
The Altitude SW1P 4RS
Dentons Future of Retail Law Conference 2018
Retail Human Resources Summit
Retail Human Resources Summit
Wednesday 3 October 2018
The Cavendish Conference Centre, London W1
The 10th HR Summit 2018, The Cavendish Conference Centre, London W1, 3rd October 2018
The Retail Design Summit 2018
The Retail Design Summit 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Summit 2018