Fashion retailer New Look has reoirted a 4.9 per cent annual increase in first quarter sales thanks to a 78.7 per cent jump in online sales.
Chief executive Anders Kristiansen said he was “very encouraged by New Look’s robust trading performance”, particularly as it came in spite of the coldest spring in 50 years. He added he was cautious about the consumer spending outlook, but said improving weather conditions had contributed to a “strong” start to the second quarter.
We are confident that the improvement in our ranges, the refurbishment of our stores and our growing online strength will underpin further progress.
New Look’s planned £650m stock market flotation in 2010 was put on hold amid turmoil in the financial markets.