New Look to increase store count in China
The retailer posted 4% increase in underlying earnings to £212.4m in the year ended 28 March this ye…
The retailer posted 4% increase in underlying earnings to £212.4m in the year ended 28 March this year. This growth was driven by 37 new stores opened during the period.
The company witnessed 4% and 5% increase in like-for-like sales and same stores sales in the UK, respectively. New Look's click-and-collect orders also increased by 28%.
New Look CEO Anders Kristiansen said: "These strong results demonstrate a year of delivery against our strategy.
"With the support of our new owners Brait, this is a hugely exciting time for New Look."
Investment firm Brait acquired a 90% stake in New Look for £780m last month.
The retailer opened 19 stores during the period, with plans to increase the number of stores to 70 in China by March 2016.
New Look intends to focus on its branding, online sales, international expansion, product development and the expansion of its menswear business.