New Look news and archive

New Look falls into the hands of its creditors

New York - The British fashion retailer has put its ownership in the hands of its lenders after failing to repay its piling debt, currently at the 1.35 billion pounds mark. The deal will see 72 percent of the business secured by New Look’s creditors. New Look started the week on a positive note: after months’ worth of financial and strategic...

Report

New Look to close 85 stores with more than 100 at risk

New Look has announced that it will be shutting 85 of its stores across the country at risk in a bid to improve its profitability, with as many as 120. In March, the UK retailer announced it would be closing 60 of its stores, but that number rose to 85 in an announcement on Tuesday. The future of a further 13 New Look stores are still being...

Report

New Look H1 profits improve but revenues drop 4.2 percent

New Look Retail Group Limited for the 26 weeks to September 22, 2018, reported improvement in profitability, while revenue declined 4.2 percent to 656.9 million pounds (859 million dollars). New Look brand like-for-like sales were down 3.7 percent compared to 8.6 percent drop in the first half of last year. The company added that adjusted EBITDA...

Report

New Look decides to exit from China

As part of the review of New Look’s international strategy, New Look Retail Group Limited said in a statement that its board of directors has decided to exit its retail business in China. The company said, following the decision, New Look Commerce (Shanghai) Co., Limited has been gradually reducing the number of its stores and now intends to...

Report

New Look manages to stabilise profits in Q1

Providing its first quarter update for the period ending June 23, 2018, New Look Retail Group Limited said that revenues were down 2.7 percent to 329.4 million pounds (426.7 million dollars), while New Look brand like-for-like sales dropped 4 percent compared to 8.2 percent decline in the same quarter of FY18. The company added that adjusted...

Report

New Look reveals 11.4 percent drop in annual like-for-like sales

For the 52 weeks to March 24, 2018, revenue at New Look Group dropped 7.3 percent to 1,347.8 million pounds (1,800 million dollars). New Look brand like-for-like sales were down 11.4 percent, while UK like-for-like sales declined 11.7 percent. The company’s website sales also declined 19.2 percent, while third party ecommerce sales were up 15.5...

Report

Sean Dougherty leaves New Look board of directors

The board of New Look Retail Group Ltd has announced that Sean Dougherty has stepped down from the board with immediate effect. Commenting on the development, Alistair McGeorge, New Look’s Executive Chairman, said in a media statement: “Both the board and I greatly appreciate the contribution Sean has made to the company over the last three...

Report

Paul Gilbert joins New Look's board as Non-Executive Director

The board of New Look Retail Group Ltd has announced the appointment of Paul Gilbert as Non-Executive Director, effective immediately. Commenting on Gilbert’s appointment to the board, Alistair McGeorge, Executive Chairman of New Look, said in a statement: “I am delighted to welcome Paul to the board. Paul brings a wealth of retail experience...

Business

New Look accused of charging "Fat Tax"

New Look is in hot water with the plus size community for appearing to charge a "fat tax" for nearly identical articles of clothing. A pair of pants in their Curve section was found to be marked up for 15 percent more than an identical pair among their straight sizes. Maria Wassell, a retail supervisor in London, announced she was boycotting the...

Report

Chris Seabrooke appointed as Non Executive Director to New Look board

Following the Brait SE directorate update announcement earlier today, the board of New Look Retail Group Ltd has announced that pursuant to time constraints, Dr Christo Wiese has retired as non-executive director of New Look. The company also said, Jacob Wiese has also stepped down as non-executive director of the company. Meanwhile, the company...

Management |UPDATE

UPDATE: Select receives 94 percent approval from creditors for CVA

London - High street fashion retailer Select proposed Company Voluntary Arrangement (CVA), which counts 183 stores across the UK, has been approved by 94 percent of its creditors. Select reached unanimous support for its proposed CVA during a meeting held in central London on Friday morning. Under the terms of the deal, no stores will be shut,...

Report |UPDATE

Mothercare mulls over closing down loss-making stores

London - Struggling maternity and baby specialist Mothercare is said to be considering closing a number of its loss-making stores and seeking rent cuts in others as it continues to face difficult trading conditions. The high street retailer, which named industry veteran David Wood as its new CEO last week, is reportedly investigating a potential...