Home / Knowledge / News / Apparel/Garments / New Look H1 FY'14 like-for-like sales up 1.9%
New Look H1 FY'14 like-for-like sales up 1.9%
12
Nov '13
New Look Retail Group Ltd announces Half Year results for the 26 weeks to 28 September 2013.

Financial Highlights

Group Revenue +6.0% to £753.2m (H1 FY13: £710.5m)
- Group like-for-like sales +1.9%
- New Look UK sales +5.0% to £579.4m (H1 FY13: £551.6m)
- New Look UK like-for-like sales +2.6%
- New Look E-commerce sales +78.8% (own website +52.9%)
- Group adjusted EBITDA + 19.3% to £103.7m (H1 FY13: £86.9m)
- Underlying operating profit +53.5% to £70.9m (H1 FY13: £46.2m)
- Profit before tax of £13.8m (H1 FY13: -£13.6m)
- Successful refinancing of debt in May 2013

Operational Highlights

-Revenue growth, markdown reduction and cost savings continue to underpin profit improvement

- Gross margin + 40bps at Group level as a result of tight control of stock and fewer markdowns

- Roll-out of our store refurbishment programme continues apace, with 199 converted by end September 2013

- Progress in multichannel continues, with Click and Collect now representing 25% of sales

- Bernhard Ruf appointed as Managing Director of International. Additionally, first six Chinese stores now agreed and progressing towards a 2014 opening programme

Anders Kristiansen, Chief Executive Officer, said, “Our strategy is delivering, and there is real momentum in the business.  I am particularly pleased with the margin improvement brought about by our continued focus on cost control, tight stock management and reduced discounting.

“E-commerce continues to power ahead. The improved functionality of our site and enhanced delivery options have been well received by customers and we are continuing to invest in this very important part of our business.

“Internationally the opportunity is huge. We are doing our due diligence carefully but we are on track to open our first Chinese store by Spring 2014.

“In line with the rest of the sector, current trading is more challenging and as yet we are not seeing any benefits of economic recovery feed through to our customers’ pockets. However, we are confident that the strength of New Look’s offer, namely our product, our website, our stores and our people means that we are well placed for the busy Christmas trading period and beyond.”

New Look


Must ReadView All

Textiles | On 20th Jul 2017

Provide safety net for cotton growers: Congress to Trump

A bipartisan Congressional coalition has called attention of...

Courtesy: ITMF

Textiles | On 20th Jul 2017

ITMF'17 themed on tech, trade, climate in disruptive times

The International Textile Manufacturers Federation (ITMF), an...

Textiles | On 20th Jul 2017

RIL’s Q1 FY18 petrochemicals revenue up 22.9% y-o-y

Reliance Industries Limited (RIL) has reported its financial...

Interviews View All

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X