New Look reveals robust trading

New Look today released figures showing strong sales growth since becomming a private company last year. The UK's third largest women's fashion retailer said group sales grew by 16.9 per cent to£813.4 million in the year to March 26, as it expanded its trading space to 1.8 million sq ft (167,220 sq m) over 527 stores.

UK like-for-like sales were up 9.8 per cent. Group earnings before interest and tax are in excess of£120 million, 40 per cent up on last year.

Since the end of the year, like-for-like sales have remained positive and the retailer said it grew market share.

New Look chief executive Phil Wrigley said: 'We have achieved strong results in our first year [as a private company] and are ahead of our plans to transform New Look. However, we still have much to do and our great team will continue to work hard to ensure we maintain this momentum. This year, we aim to strengthen our brand, increase the scale of the business and build on our reputation as a leading fashion retailer.'

New Look has committed itself to widening its ranges, to menswear, childrenswear, petit and tall ranges.

In addition, it strengthened its management team in the past three months, with the appointment of Richard Lapthorne as non-executive chairman, Paul Merchant as managing director of buying merchandising and design and Michael Lemner as the group's international director.