New Look to bolster income amid retailer closures

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New Look to bolster profits amid store closures


New Look has put the brakes on its downward gross sales spiral after calling an finish to the “industrial insanity” of its earlier administration and curbing its on-line promotions.

The style chain recorded a 4.2pc slip in gross sales to £656.9m within the six months to 22 September, in comparison with a 4.5pc fall final yr. Like-for-like gross sales vastly improved in the course of the interval, with a 3.7pc drop versus a 8.6pc plunge in 2017.

New Look stated the outcomes mirrored progress in its ongoing turnaround plan because it had improved gross sales and profitability in its womenswear ranges, serving to to outperform the broader trend market by 5.6pc. Nonetheless, challenges stay in its lacklustre footwear and equipment enterprise.

The corporate made…

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