UK: New Look boosts a 3.6 increase in Christmas sales.
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.
Egytex News Desk
Source: www.theretailbulletin.com
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.
Source: www.theretailbulletin.com
From the Egytex news archive, first published on 15 January 2012. Figures and names are as reported at the time.
