Home / Knowledge / News / Apparel/Garments / FY15 revenue climbs 3.4% at UK retailer New Look
FY15 revenue climbs 3.4% at UK retailer New Look
05
Jun '15
For the 52 weeks period ended March 28, 2015, revenue at UK based apparel retailer New Look climbed 3.4 per cent year over year.

A New Look press release informed that its revenue for fiscal 2015 grew 3.4 per cent to reach £1,414.5 million as against £1,368.0 million in the previous fiscal.

Within overall revenue, New Look brand like-for-like sales rose 4.0 per cent over fiscal 2014, while UK like-for-like sales ascended higher at 5.0 per cent.

However, ecommerce sales surged 34.0 per cent in the reporting fiscal, while its own website sales soared 30.4 per cent from the earlier fiscal.

For the 52 weeks period, adjusted EBITDA totaled £212.4 million, up 4.0 per cent compared to £204.2 million in fiscal 2014.

Underlying operating profit was higher at 8.7 per cent and reached £153.2 million in the fiscal under review from £141.0 million in the previous fiscal.

The women’s apparel retailer’s profit before tax more than doubled to £50.6 million in fiscal 2015 as against £20.7 million in the last fiscal.

New Look reported free cash flow of £147.0 million, higher by 1.1 per cent compared to £145.4 million in fiscal 2014.

Gross margin was broadly flat at 52.7 per cent in the reporting fiscal as against 52.8 per cent from the previous fiscal.

During the fiscal, it recorded strong progress in its new concept store format and refurbished 291 outlets and also opened 37 new stores.

New Look said it is now trading successfully through eleven key third party partners including ASOS and Zalando.

According to New look, the Chinese business too posted strong performance in its first year of trading. It had 19 stores trading at fiscal end, after which it opened 11 additional stores in April and May.

On its outlook, New Look informed that whilst the high street remains as competitive as ever, it has been pleased with early summer trading, seeing positive reactions to new trends.

“We will continue to invest in our strategic initiatives, and we are confident that the increasing strength of the New Look brand leaves us well placed for the year ahead,” the retailer observed.

CEO Anders Kristiansen said, “In the UK, a LFL sales increase of 5.0 per cent is testament to our improved brand signature and multichannel strength.”

“In particular, our considerable high street presence has left us well-placed to capitalise on the growing demand for click-and-collect, with over a quarter of online purchases now collected in-store,” he added.

Founded in 1969, the New Look Group has over 800 stores across the globe in 21 countries and its 569 UK stores places New Look in immediate reach of the majority of the British population. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Indian govt approves special package for leather, footwear

Textiles | On 16th Dec 2017

Indian govt approves special package for leather, footwear

The Union Cabinet chaired by PM Narendra Modi has approved a special...

EU parliament resolution calls for Cambodia sanctions

Apparel/Garments | On 16th Dec 2017

EU parliament resolution calls for Cambodia sanctions

Following the ongoing crackdown in Cambodia on the opposition and...

Affordable prices to be hit if US pulls out of NAFTA: NRF

Apparel/Garments | On 16th Dec 2017

Affordable prices to be hit if US pulls out of NAFTA: NRF

US retailers’ ability to offer consumers quality products at...

Interviews View All

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Steve Cole
Xerium Technologies

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

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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

December 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

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

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

Yes No

Active Poll

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

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

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

Yes No

Active Poll

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

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

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

Active Poll

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

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


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