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First Russian New Look store to open in next month
07 Jan '09
4 min read
In addition to our international store growth and range extensions during the past six months, we have also focused on improving our supply chain to facililtate future international expansion and improve our speed to market.
In September 2008 the Group opened its first overseas hub in Singapore reducing our average delivery time from suppliers in the Far East to Middle East stores by 22 days. Other benefits include reduced transportation costs and a reduction in our carbon footprint by approximately 500 tonnes per annum.
A similar facility opened in Turkey in November 2008 to reduce delivery times to our Middle East and our future stores in Russia from our European suppliers. Both hubs will support the future international expansion of the Group.
We expect the market to weaken further taking into account low consumer confidence, rising unemployment, negative equity worries and cost pressures. We therefore remain cautious for the second half although confident in New Look's ability to outperform in a difficult market. The business will see the benefits from the rollout of further ranges, ongoing space optimisation, continuing new store openings, improvements to customer's online experience, and a distribution centre that is achieving strong levels of efficiencies and cost savings.
The uncertain economic environment has created a tough market. However, we have had a successful half year making good year on year progress in both sales and EBITDA. The effort that our staff have shown over the past six months has been tremendous and I am grateful to them for all their hard work. It is this effort that has enabled New Look to outperform the market.
In September 2008 the Group opened its first overseas hub in Singapore reducing our average delivery time from suppliers in the Far East to Middle East stores by 22 days. Other benefits include reduced transportation costs and a reduction in our carbon footprint by approximately 500 tonnes per annum.
A similar facility opened in Turkey in November 2008 to reduce delivery times to our Middle East and our future stores in Russia from our European suppliers. Both hubs will support the future international expansion of the Group.
We expect the market to weaken further taking into account low consumer confidence, rising unemployment, negative equity worries and cost pressures. We therefore remain cautious for the second half although confident in New Look's ability to outperform in a difficult market. The business will see the benefits from the rollout of further ranges, ongoing space optimisation, continuing new store openings, improvements to customer's online experience, and a distribution centre that is achieving strong levels of efficiencies and cost savings.
The uncertain economic environment has created a tough market. However, we have had a successful half year making good year on year progress in both sales and EBITDA. The effort that our staff have shown over the past six months has been tremendous and I am grateful to them for all their hard work. It is this effort that has enabled New Look to outperform the market.
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