(update) New Look closes the financial year with lower turnover and a loss. The British fashion chain underwent a major reorganization this year and withdrew from Ireland. The clothing label hopes to be acquired in 2026.
Year of transition
Turnover fell by 6.5% this year to £687.7 million (€788.5 million). The company recorded an operating loss of £47.6 million (€54.6 million), compared to an operating profit of £17.4 million (€20 million) a year earlier.
The losses are mainly due to the liquidation of the Irish branch in February this year, but the chain also gradually closed stores elsewhere. The financial year ended with 337 stores in the United Kingdom, compared to 356 in 2024. Nevertheless, New Look remains one of the largest women’s fashion retailers in the country, especially for younger consumers.
In the middle of this year, New Look engaged investment bank Rothschild for a strategic review, with a view to a possible sale in 2026. At the same time, the British chain reduced its debt thanks to a capital injection of £30 million (€34.4 million). As a result, net debt fell from £112.7 million (€140.7 million) to £69.8 million (€80 million).
“Encouraging signs of momentum”
“The past year has been about sharpening our focus and strengthening our existing foundations. We have made deliberate choices to simplify the business and invest where we know we can win – in digital, data and customer experience”, Helen Connolly, Chief Executive, comments. “Moving through the festive season, we are seeing encouraging signs of momentum, with strong customer loyalty and engagement, along with an expanding digital base.”
“We remain focused on our goal to double digital orders from 500 million to 1 billion pounds by 2030. There is still more to do, but our direction is clear and our strategy is working. We are entering this next phase with confidence, discipline and a strong understanding of what matters most to our customers”, according to Connolly.
