GENERAL MERCHANDISE NEWS
New Look seeks supplier support
10 December, 2003 | by Retail Bulletin
Move to share to cost of promotions
December 10 2003
New Look has asked suppliers to split the cost of the retailers promotional discounts.
The fashion retailer wants its suppliers to help meet the impact of lower margins caused by discounting. Last month, New Look said it had seen weaker trading since early November.
The chain has increased promotional activity on winter lines to boost volumes, with sales sluggish as a result of mild weather during October and November.
New Look founder Tom Singh is undertaking due diligence on a potential bid to take the company private, and is thought to be waiting to see how Christmas sales stack up before deciding the level of any offer.
