New Look boss targets 'imperfect' rules for listed companies
New Look chief executive Phil Wrigley has described reporting regulations imposed on listed companies as an 'imperfect mechanism'.
Speaking at the Retail Week Conference today, he added that the fashion retailer has chosen to keep communications open with its financial backers since it went private almost a year ago. He said this allows the business to be entrepreneurial with long-term investment, adding it is a myth that privatisation equals short-termism in the company's outlook.
Future plans for New Look include the opening of a high-tech distribution centre in Newcastle later this year, expanding its average store size and increasing its international expansion.
Wrigley would not give a time frame for a possible return to market for New Look, saying investors would set the pace.
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