New Look upbeat for 2015

High street fashion chain New Look is upbeat for 2015, despite having suffered a sales drop in Q3 with the unseasonably warm weather.

The company, which saw revenue fall 1.6 percent in the quarter, had a strong Christmas, with sales up 4.1 percent. In numbers, operating profit was up 1.8 percent to 62.8 million pounds.

Like many on the high street, New Look suffered sales with the “unseasonably warm” three months to December 27, but the fast fashion chain is still buoyant after growing market share.

Last year New Look appointment a new chief executive, Anders Kristiansen, and since his appointment the company has reshuffled its store portfolio, sold off one of its non performing brands, focussed on new markets like China and expanded its menswear offer.

New Look is confident about its brand strength

As with so many retailers, the fashion chain is cautiously optimistic, noting that there are still concerns around the wider consumer environment, but insisting it is “confident in the strength of the New Look brand”.

Kristiansen said: “This is a robust performance against a challenging backdrop. Although October and November were affected by unseasonably warm weather, we grew market share in the period and our Christmas trading figures are testament to the quality of our product and the continued investment made in our multichannel offer, both in-store and online.

"It was a record online sales performance over the Christmas period with all channels well prepared for peaks in demand around Black Friday, Cyber Monday and Boxing Day. Mobile and tablet ordering overtook desktop for the first time on Boxing Day."

Image: New Look
 

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