Fashionunited
 

New Look swings to profit as turnaround efforts continue

For the third quarter, group underlying operating profit at New Look reached 38.5 million pounds (49.6 million dollars) compared to underlying operating loss of 5.1 million pounds in the third quarte
Business

Monsoon seeks rent cuts, says 'currently no plans' for a CVA

British womenswear retailer Monsoon is reportedly asking landlords for rent reductions as it considers “accelerating” store closures. A Monsoon spokesperson told the Mail on Sunday that t
Business

New Look may be forced to put itself up for sale in refinancing process

Struggling British retailer New Look may be forced to put itself up for sale in order to complete its refinancing process. A note to bondholders seen by the Guardian on Friday said that in order to f
Business

New Look to exit Belgium

Struggling British retailer New Look has announced that its Belgium arm is filing for insolvency. The decision to stop the operations of its six Belgium stores was made by the board of directors of N
Retail

New Look falls into the hands of its creditors

New York - The British fashion retailer has put its ownership in the hands of its lenders after failing to repay its piling debt, currently at the 1.35 billion pounds mark. The deal will see 72 perce
Business

New Look to close 85 stores with more than 100 at risk

New Look has announced that it will be shutting 85 of its stores across the country in a bid to improve its profitability, with as many as 120 at risk. In March, the UK retailer announced it would be
Retail

New Look H1 profits improve but revenues drop 4.2 percent

New Look Retail Group Limited for the 26 weeks to September 22, 2018, reported improvement in profitability, while revenue declined 4.2 percent to 656.9 million pounds (859 million dollars). New Look
Business

New Look decides to exit from China

As part of the review of New Look’s international strategy, New Look Retail Group Limited said in a statement that its board of directors has decided to exit its retail business in China. The c
Business

New Look manages to stabilise profits in Q1

Providing its first quarter update for the period ending June 23, 2018, New Look Retail Group Limited said that revenues were down 2.7 percent to 329.4 million pounds (426.7 million dollars), while N
Business

New Look reveals 11.4 percent drop in annual like-for-like sales

For the 52 weeks to March 24, 2018, revenue at New Look Group dropped 7.3 percent to 1,347.8 million pounds (1,800 million dollars). New Look brand like-for-like sales were down 11.4 percent, while U
Business

Sean Dougherty leaves New Look board of directors

The board of New Look Retail Group Ltd has announced that Sean Dougherty has stepped down from the board with immediate effect. Commenting on the development, Alistair McGeorge, New Look’s Exec
People

House of Fraser issues statement that CVA is still 'on track'

House of Fraser has issued a statement in which it denies all recent media speculation that its future is hanging in balance. The department store group claims its business 'is still on track' as rep
Business

Landlords to resist retailers use of CVA to slash rent

A group of high street landlords is said to be preparing to challenge retailer's company voluntary arrangements, arguing they are being pressured into agreeing to rent reductions. Struggling retailer
Business

Paul Gilbert joins New Look's board as Non-Executive Director

The board of New Look Retail Group Ltd has announced the appointment of Paul Gilbert as Non-Executive Director, effective immediately. Commenting on Gilbert’s appointment to the board, Alistair
People

New Look accused of charging "Fat Tax"

New Look is in hot water with the plus size community for appearing to charge a "fat tax" for nearly identical articles of clothing. A pair of pants in their Curve section was found to be marked up f
Business

Chris Seabrooke appointed as Non Executive Director to New Look board

Following the Brait SE directorate update announcement earlier today, the board of New Look Retail Group Ltd has announced that pursuant to time constraints, Dr Christo Wiese has retired as non-execu
People

The UK retail goes through its toughest spot since 2013

Dr Tim Denison, head of retail intelligence, Ipsos Retail Performance, summarises the reasons why this five-year low has been reached, recalling that “Online retailing has had a seismic impact
ANALYSIS
Fashion

UPDATE: Select receives 94 percent approval from creditors for CVA

London - High street fashion retailer Select proposed Company Voluntary Arrangement (CVA), which counts 183 stores across the UK, has been approved by 94 percent of its creditors. Select reached unan
UPDATE
Business

Mothercare mulls over closing down loss-making stores

London - Struggling maternity and baby specialist Mothercare is said to be considering closing a number of its loss-making stores and seeking rent cuts in others as it continues to face difficult tra
UPDATE
Business

New Look's non-executive director Alastair Walker steps down

The board of New Look Retail Group Ltd has announced that pursuant to his resignation as a director of Brait South Africa Proprietary Limited on March 31, 2018, Alastair Walker has stepped down as a
People

Jigsaw said to have secured 20 million pound injection

London - High street retailer Jigsaw is reportedly set to sell a significant stake in its business to the founder of Carphone Warehouse, as it secures a 20 million pound cash injection as part of its
Business

Select parent company files for CVA, placing 1750 jobs at risk

London - Genus UK Ltd, parent company of fashion retailer Select, is the latest high street chain to succumb to difficult trading conditions as it files for company voluntary agreement (CVA). Genus U
Business

New Look gets creditors' support to close 60 stores

New Look has announced that its Company Voluntary Arrangement (CVA) proposal launched on March 7, 2018 has been approved by the company’s creditors and landlords, with 98 percent of votes, whic
Business

New Look, Mothercare, and Debenhams, on rising debt 'warning zone'

Nearly 400 retailers, including big high street chains and heavy weights of British high street fashion names such as New Look, Mothercare, and Debenhams, could struggle to meet higher interest payme
Business

60 store closures not enough to 'turn New Look around'

London - New Look is prepared to close up to 60 underperforming stores across the UK in order to keep it from going under, putting 980 jobs at risk, but this may not be enough to turn the struggling
Business

980 jobs at risk at New Look, as 60 stores may shut following CVA

London - New Look is the latest high street retailer to succumb to difficult trading conditions, as the fashion brand confirms its application for a Company Voluntary Agreement (CVA). The struggling
UPDATE
Business

New Look seeks up to 60 percent store rent cuts

London - High street retailer New Look is seeking to cut its store rents by up to 60 percent as part of a rescue plan to tackle its 1.2 billion pound debt. At the same time the fashion retailer is al
UPDATE
Business

New Look approaches landlords for reduced rent in an umpteenth effort to overcome financial struggles

The British retailer continues to explore every possible way to reduce costs and maximise efficiencies in order to put out rising financial woes. Online sales fell by more than 10 percent in the week
Business

New Look scraps 12 mn pounds pay scheme

After announcing the departure of Danny Barrasso, managing director UK & ROI, New Look has scrapped a 12 million pounds (16.6 million dollars) pay scheme, announced in 2015, states a This is Mone
Business

New Look MD Danny Barrasso resigns

The board of New Look Retail Group Ltd has announced the resignation of Danny Barrasso, Managing Director UK & ROI, who will be leaving the company effective February 9, 2018. The company also an
People