New Look UK like-for-like sales up 3.7% over Christmas
High street fashion retailer New Look has seen a 3.7% uplift in UK like-for-like sales in the 14 weeks to 29 December.
UK total sales rose 4% in the period while group total sales climbed 4.5%.
New Look’s online sales increased by over 50% while gross margin was “significantly ahead” of last year as tight stock management resulted in lower markdown and promotional activity.
Chairman Alistair McGeorge said: “The group has delivered an excellent result in a challenging trading environment, and this performance is a testament to the success of our recovery programme and the strength of our brand.”
Never Miss a Retail Update!Although McGeorge expects the economic outlook to remain challenging, he said he was confident in the group’s ability to maintain a positive momentum due to the improved value of ranges, a store refurbishment program and continued growth of New Look’s online offer.
