British fashion retailer New Look achieved a decent 5.4 % growth in the past fiscal year (which ended on 26 March 2016), partially thanks to its improved eCommerce performance, up 27.9 %.
Strong Chinese sales
New Look’s total turnover reached 1.491 billion pounds (1.904 billion euro) in the past fiscal year. Its like-for-like turnover grew 3.6 % and its online sales shot up 27.9 %. Pre-tax profit grew 16.8 % to 59.1 million pounds (75.5 million euro).
Its online growth came on the back of improvements in its online platform and its mobile app. New Look added the option to pick up online orders in a local store the following day. Other successful divisions are the men’s division (with 8 stores) and its Chinese activities, where New Look owns 85 stores.
“These are good results during what has been a milestone year for the business. With the support of our new owners Brait, we have made continued progress against our strategic initiatives as we develop New Look into a truly global brand” said Anders Kristiansen, New Look CEO.
