Belfast Telegraph

New Look a hit with the seasons

BY NICK GOODWAY

Fashion chain New Look rode the vagaries of the UK weather better than some of its rivals, surviving the coldest spring for 50 years but having the right dresses and skirts on the rails when the summer finally arrived.

New chief executive Anders Kristiansen said: "We had a really successful start to the year. April was unusually cold but, as things normalised, we achieved like-for-like sales growth of 1% in the quarter to the end of June."

Total sales rose 4.9% to £363m while earnings before interest, tax, depreciation and amortisation rose by 13.1% to £50m. Online sales rose by an impressive 78% to around 10% of UK sales.

Kristiansen confirmed there was no plan to revive New Look's stock market flotation – it pulled its £1.7bn float three years ago. "We have extended our debt maturity to 2018 and the task is about building a solid business. We could be doing better," she said.

Belfast Telegraph

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