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Christmas UK sales up 5.4%, New Look
23
Jan '12
New Look Retail Group Limited announces trading results for the 5 weeks to 31st December which covers the crucial Christmas period and the first week of our Sale. During this period, while trading conditions have remained challenging, New Look has started to see the impact of the actions taken since the summer to improve the performance of the business.

For this 5 week period, inc VAT sales in the UK were +5.4% (+3.4% ex VAT) and +3.6% LFL. Group inc VAT sales were +3.6% (+2.0% ex VAT).

Alistair McGeorge, Executive Chairman, said:

“We have worked hard to ensure our buying and merchandising teams are fully focused on delivering the fast fashion at great prices that our customers expect from us and are encouraged to see the early results of our actions coming through. At the same time, we have made the business more cost efficient whilst continuing to invest in key customer focussed initiatives including the successful launch of 'click and collect'.

“This compliments the work that is underway to improve the customer experience in store, strengthening our multi-channel credentials. Our online business continues to grow strongly and customers now have the choice of whether to buy online via their PC, their smart-phone or in store through a new till system which was rolled out across our branch network during 2011.

“Our recent performance demonstrates that our hard work is beginning to pay off and we are pleased that both sales and profitability are responding positively. We are nevertheless mindful that we are operating against a backdrop of a tough and potentially worsening economic climate and remain cautious about the outlook for the next few months.”

Separately, New Look announces that Guy Lister, currently Chief Marketing Officer,will become Customer & Multi-channel Managing Director and will join the main Board. Bringing together these roles is part of our wider multi-channel strategy. Guy will ensure that customers have the same great experience consistently, regardless of how they choose to shop.

New Look Retail Group Limited

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Courtesy: H&M

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