New Look sees online sales surge in first quarter
Fashion retailer New Look has returned to profit reporting a surge of 79% in online sales for its first quarter to June 2013. Online sales now account for 10% of total revenue at the company, which last year reached £1.5 billion.
Overall sales at the brand were up 1% on the previous year. In June, the company recorded pre-tax profits of £3.1m in the year to March 30, compared to a pre-tax loss of £54.5m in the previous 12 months.
The company remains confident with its continued e-commerce growth as it moves into the second quarter. 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. 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 boast a network of over over 1,000 stores worldwide, in the UK and Republic of Ireland, Europe, the Middle East, Singapore, Russia and Poland.
By Lauren Walker
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