New Look has posted a 4% decline in its own brand like-for-like sales in its first quarter which was an improvement on the 8.2% drop seen in the same period in the previous year.
Alistair McGeorge, New Look executive chairman, said: “We previously said that our focus is to achieve financial and operational stability. In Q1 we made good progress in stabilising profits and delivering on our cost savings plan, with encouraging green shoots seen in womenswear.
“We ended the quarter with a clean stock position and have seen improved sales performance in the areas we have addressed so far in our product review. We are confident there is more to come as we focus on our remaining product ranges.”
McGeorge also added: “Our turnaround plans continue, and we will deliver further operational efficiencies whilst maintaining our resolute focus on our core strengths and heartland customer to ensure we remain on the right track.”
