New Look has seen revenue increase by 5.4% to £1,490.6 million from £1,414.5 million year-on-year as a result of its multichannel offering.
In the year to March 26th, total like-for-like sales rose 3.6%, with UK like-for-likes rising by 3.4%.
The chain saw a particularly strong performance from its menswear offering, which currently includes eight stores with more in the pipeline to open soon.
“These are good results during what has been a milestone year for the business. With the support of our new owners Brait, we have made continued progress against our strategic initiatives as we develop New Look into a truly global brand" said Anders Kristiansen, New Look CEO.
“In particular, the increase in our like-for-like sales reflects the strength of our multichannel proposition. Across all our channels - in-store, online or via click-and-collect - we are ensuring that shopping with New Look is as seamless and convenient as possible.
“Elsewhere, the rollout of New Look Menswear is progressing well. Our product range has been strengthened and we are delighted with the look and feel of our new menswear stores and we have 20 more planned for this year.
“In China too, we have seen strong local reaction to our affordable, fast-fashion offer. We plan to open a further 50 stores in China during the coming year. Since the year-end, we’ve opened 7 more stores already, taking us to 92 altogether in this market.
“As for current trading, retailing in the UK is more challenging than it has been for some time, and we expect some impact on the business. However, whilst we remain watchful of volatility in consumer sentiment I am confident in our strategy and our ability to continue to execute it long term.”
