New Look sales, profits rise despite “competitive” market

first_img whatsapp Share whatsapp Catherine Neilan by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekPost FunKate & Meghan Are Very Different Mothers, These Photos Prove ItPost FunInvestment GuruRemember Cote De Pablo? Take A Deep Breath Before You See Her NowInvestment GuruEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorLearn It WiseAfter Losing 70lbs Susan Boyle Is So Skinny Now She Looks Like A ModelLearn It WiseTele Health DaveRemember Pierce Brosnan’s Wife? Take A Deep Breath Before You See What She Looks Like NowTele Health DaveTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmLivestlyThe Best Redhead Actresses, RankedLivestlyTotal PastThis Was Found Hiding In An Oil Painting – Take A Closer LookTotal Past New Look’s new parents will be pleased with the fast fashion’s latest set of results, showing the turnaround under Anders Kristiansen continuing to stabilise a previously struggling business. The figuresRevenues were up 3.4 per cent to £1.4bn for the year to March 28, as like-for-likes climbed four per cent and UK like-for-likes rose 5.1 per cent.  Ecommerce jumped 34 per cent, though this was at a slower rate than last year’s 63.9 per cent increase. Own website sales were up 30.4 per cent.  Group adjusted EBITDA rose four per cent to £212.4m, while underlying operating profit was up 8.7 per cent. Why it’s interestingNew Look was sold for £780m just a fortnight ago to South African magnate Christo Wiese, who has long wanted to return to the UK’s high street. Wiese had been linked with BHS but went instead with the fast-fashion business owned by private equity firms Apax and Permira. With these figures, Wiese is presumably feeling quietly confident about his new venture.   In the past couple of years Kristiansen has turned the business around, improving its product, strengthening its menswear division and pushing ahead with international growth – New Look traded well in its first year in China, the results said.  He has also bought it more time to pay down its huge debts.  While it has taken the likes of Marks & Spencer several quarters to get it right, Kristiansen has managed to achieve all this in just over two years.  What they saidNew Look noted that the high street was “as competitive as ever”, but said it was pleased with early summer trading.  “We are confident that the increasing strength of the New Look brand leaves us well placed for the year ahead.” Kristiansen added: “These strong results demonstrate a year of delivery against our strategy. With the support of our new owners Brait, this is a hugely exciting time for New Look, as we continue to focus on our strategic initiatives of brand, multichannel, international expansion, product development and menswear. “Our spring collections are being well received and I would like to thank everybody at New Look for their hard work over the last twelve months as we enter the new financial year with continued momentum.” New Look sales, profits rise despite “competitive” market center_img Tuesday 2 June 2015 3:21 am More From Our Partners 980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgWhite House Again Downplays Fourth Possible Coronvirus Checkvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInstitutional Investors Turn To Options to Bet Against AMCvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com Show Comments ▼ Tags: Christo Wiese New Look Peoplelast_img read more