Overseas expansion to come
Fashion retailer New Look has reported an upbeat Christmas, with a rise in profits.

Like-for-like sales for the 39 weeks to Christmas Eve, excluding store openings, rose 0.1 per cent. Like-for-like gross profit increased by 4.8 per cent.

The retailer also plans to open shops in France and Belgium early this year.

New Look chief executive Phil Wrigley said: 'Since going private, we have traded ahead of expectations, outperformed the market and made major investment in our stores, supply chain and brand.

'This investment will continue as we expand overseas, develop menswear and childrenswear and carry on providing our 6 million customers with great fashion. The benefits from these investments are driving strong profit growth and we look forward to concluding another successful year.'

Seymour Pierce analyst Richard Ratner said: 'The company is increasing market share in clothing and is the second-largest women's footwear retailer by volume. New Look has gone well since going private, although it could be argued that perhaps it is doing rather too much at once.'

The results follow New Look's acquisition of 34 Littlewoods stores from Associated British Foods, the parent company of Primark.

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