New Look and American Apparel lead trading across Atlantic

Tuesday´s was one active session, trading-wise. In the UK,

affordable fashion chain New Look saw its online sales rocketed, nearly gaining 80 percent for the first-quarter. Meanwhile, fashion peer American Apparel´s stock lost over 13 percent by the end of the day.

EBITDA at the British fashion chain rose 13.1 percent in the quarter to June 29 while group like-for-likes rose 0.3 percent. Group sales increased 4.9 percent in the period, helped by online sales which surged 78.7 percent. Like-for-like sales under the New Look brand rose 1 percent.

“We are very encouraged by New Look’s robust trading performance in the period, in spite of the coldest spring for 50 years. Our disciplined attitude to cost and stock management has enabled us to make further strong progress in a difficult and volatile trading environment,” CEO at New Look commented the financial release.

Across the Atlantic, American Apparel also released results for its second quarter. Revenue was boosted as grew 9 percent to 162.2 million dollars, in line with expectations. Same-store sales improved 7 percent. Despite the good figures, earnings were affected by the investments made in a new distribution center. Overall, the company's adjusted net loss improved from 13.9 million dollars a year ago to 10.9 million, or 0.10 dollars a share.

Elsewhere, Danish fashion magnate Anders Holch Povlsen has bought 10 percent of German-based fashion e-retailer Zalando. According to a statement released by the company on Tuesday, Povlsen, who owns the Bestseller group that includes brands such as Jack & Jones and Vero Moda, had bought shares from early investors including European Founders Fund (EFF), Holtzbrinck and Tengelmann, which have all retained stakes in the company founded in 2008.

Finally, LVMH Moet Hennessy Louis Vuitton SA ended higher by 0.27 percent, closing the session at 37.27 dollars per share, not too far from its 12-month high of 38.47 dollars.