New Look Retail Group Q1 FY'14 sales up 4.9%

Highlights:

- Group Sales +4.9%
- Group Like-for-Likes +0.3%
- New Look Brand Like-for-Likes +1.0%
- Online Sales +78.7%
- EBITDA +13.1%

Current Trading and Outlook

We have had a strong start to the second quarter and were well positioned to take advantage of the better weather, consequently achieving a more favourable sales mix with a higher proportion of full price sales and a reduced number of markdowns.

Looking ahead, we remain cautious on the outlook for consumer spending, but are confident in our ability to continue to make progress as a result of our excellent ranges, our on-going store transformation programme and our continued growth in e-commerce.

Anders Kristiansen, Chief Executive Officer, said:

“We are very encouraged by New Look’s robust trading performance in the period, in spite of the coldest spring for 50 years.

“Our disciplined attitude to cost and stock management has enabled us to make further strong progress in a difficult and volatile trading environment. We are confident that the improvement to our ranges, the refurbishment of our stores and our growing online strength will underpin further progress.”

New Look