- Pre-tax profits increased 38.9% to £87.9m
- Sales grew 5.6% to £1.17bn, while UK like-for-likes were up 4.3%
- CEO Anders Kristiansen said the retailer delivered against a ”tough market this quarter”
New Look has recorded a rise in sales and profits for the third quarter of the year despite what it called a highly ”promotional environment”.
The fashion chain said pre-tax profits increased 38.9% to £87.9m during the 39 weeks to December 26 on the back of sales of £1.17bn, up 5.6% year on year.
Its own brand online sales were up 34.7% during the period while takings from third-party players online increased 32.7%.
During the Christmas season, New Look delivered a 3.2% rise in sales during the seven weeks to January 2.
New Look chief executive Anders Kristiansen said the company performed well during a tough season, which saw many retailers go on Sale early as a result of the mild weather.
“In what has been perceived as a tough market this quarter, we feel pleased with this performance. Our preparation and readiness for the peak trading season ensured we delivered good results, despite the highly promotional environment in the UK including the competitive challenges generated by Black Friday.
“I’m pleased with our progress in China, with over 80 stores now open and one of our four priority markets which remains a key driver of growth for our business, and the continued good performance of our new standalone menswear stores, we are excited to be opening more of these in the coming months.”
New Looks plans to open 15-20 new menswear stores in the next year.
The chain will continue with its expansion in China, with 75 stores open at the end of the third quarter and 85 still expected to be in operation there by the end of the financial year.
It added that almost a third (31%) of its ecommerce customers use click and collect.