Retailer Spotlight – New Look

Posted At: 08 June 2016 00:58 AM
Related Categories: Retail, Retailers

Having started life a teen fashion retailer in 1969, New Look has come a long way since its humble beginnings; from upping its game to offer clothing to a more mature woman, branching out into menswear and standalone men’s stores, and expanding internationally. All things of which have led to New Look to report a significant year in its latest accounting period.

For the year to the end of March, New Look reported underlying profits of £174.7m on the back of sales of £1.5bn; an improvement driven by multichannel, menswear and “continued success” in China. Online sales soared for New Look, with own website sales up 27.9% for the year and third party online sales increasing 41.8%.

The year saw New Look open six standalone menswear stores, and a further two stores since year end – all of which are “trading well” - and New Look is on track to open 20 new stores by the end of March 2017.

China has certainly been a success story for New Look where it has opened a further 66 stores over the past year, and it now trades from 92 stores in the region having opened another seven stores since the end of March. The next year will see New Look open another 50 shops in China where demand for its product is high.

Having been sold to Brait in May 2015, New Look has certainly flourished over the past year, making continued progress against its strategic initiatives to develop into a truly global brand.
  

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