Fashionunited
 

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

New Look’s bondholders prepare to fight against potential financial loss

Bondholders of New Look have appointed Rothschild investment bank to protect their interests in case the financial struggles the company is going through provoke a corporate overhaul. The market ex
ANALISIS
Business

New Look staff left worrying following store closure reports

London - New Look employees were dealt a harsh blow as a list of potential stores pegged for closure began circulating. A list of 49 New Look stores apparently up for closure or lease renegotiations
Retail

Buyers move in as New Look edges closer to breaking-point

London - Potential buyers are understood to be moving in on New Look, after its ongoing financial crisis leave the high street fashion retailer a prime takeover candidate. Prospective buyers are mull
Business

New Look reportedly closing 10 percent of stores across the UK

High street fast fashion chain New Look is reported to be considering a 10 percent reduction of its home market’s physical network, as its financial issues deepen. Sources close to the matter
Business

New Looks pulls the plug on London HQ move

London - High street retailer New Look has canceled plans to move its headquarter to a new location in London after facing increasing financial pressure. New Look was set to relocate its headquarters
Business

New Look faces critical situation as insurers cut coverage for suppliers

London - New Look high street woes are only set to deepen, as credit insurers have reportedly pulled their coverage against insolvency to its suppliers. Insurers such as Euler Hermes have pulled thei
Business

New Look completes listing on the International Stock Exchange

New Look Retail Group has confirmed that the listing on the official list of the International Stock Exchange and de-listing from the Luxembourg Stock Exchange has been completed. For the 26 weeks to
Business

New Look swings to loss of 10.4 mn pounds in H1

For the 26 weeks to September 23, 2017, revenues at New Look declined 4.5 percent to 686 million pounds (902 million dollars). New Look brand like-for-like sales also decreased 8.6 percent. The compa
Business

New Look cuts 390 management roles following redundancy consultation

London - High street fashion retailer New Look has axed close to 400 store management roles following a redundancy consultation. The consultation, which affected 1,000 out of the retailer’s 19,
Business