New Look Q3 group revenue up 5.6 percent

REPORT_For the third quarter New Look group revenue was up 5.6 percent. Group like-for-like sales were up 1.1 percent.

 New Look brand like-for-like sales were up 1.7 percent. New Look e-commerce sales were up 65.6 percent. Group adjusted EBITDA was up 9.9 percent. The first stores will open in both Shanghai and Beijing in spring 2014 with further stores expected to open during the course of the year.

Anders Kristiansen, CEO, said: “We are pleased with our performance in a difficult quarter. Growth was once more driven by a particularly strong e-commerce performance – both from our own site and from third parties - and our New Look international business turned in a commendable performance, up 7.2 percent in the period. We are excited about the continued growth of our multi-channel business.”

New Look is a leading fast fashion retailer, offering excitement and accessible fashion across the globe. The first shop was opened in 1969. About 800 new products are uploaded online every week. New Look takes the latest trends straight from the catwalks and works them in a way that’s accessible. Sourcing suppliers from all around the world means it can buy in to new trends quickly, allowing it to run a fast fashion model with a typical turnaround of design to shop floor in just ten weeks.