New Look posts "terrific" results for financial quarter

GOOD NEWS: New Look offices with founder Tom Singh and Customer & Multi-Channel MD Guy Lister

GOOD NEWS: New Look offices with founder Tom Singh and Customer & Multi-Channel MD Guy Lister

First published in News

WEYMOUTH-based high street fashion chain New Look has posted “terrific” financial results from the first financial quarter.

Group revenue for the retail giant, which has its head offices at the Weymouth Gateway site, increased to £392.5 million representing an increase of 8.1 per cent compared to last year’s results.

The company now has an underlying operating profit of £43.6 million, a huge increase of 38.4 per cent compared to 2013, with the company’s e-commerce sales also increasing by 39.2 per cent, including a 28 per cent increase in purchases from its own website.

Like-for-like sales in the United Kingdom also increased by 11.6 per cent, with a global increase of 8.9 per cent.

Anders Kristiansen, chief executive officer, said the latest results were encouraging for the upcoming year but warned that the second quarter represented a tougher period compared to last year’s. The news of the impressive results has been welcomed by the brief-holder for economic development at Weymouth and Portland Borough Council Cllr Ray Nowak, who said he hoped the results would attract other companies to base themselves in the area.

He added: “It puts Weymouth on the map and we are very keen on putting a good message about the borough out there. Weymouth town has an awful lot going for it.

“This is a fantastic place to live and work and when you have big companies that are prospering we should use that as a signal to other companies.”

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