Monday 6 September 2021 1:38 pm

Former Sainsbury's CEO Mike Coupe made New Look chairman

Former Sainsbury’s boss Mike Coupe is to take on the role of non-executive chairman at New Look.

Coupe will move to the retailer after working as testing director of NHS Test and Trace since last autumn. 

The former supermarket boss will succeed Alistair McGeorge at the clothing retailer, effective September 29.

“As a leading womenswear brand known for its broad appeal fashion, the business has a significant opportunity to capitalise on through its omnichannel model and loyal customer base,” Coupe said.

In full-year accounts published last month, the retailer stressed that any future Covid restrictions must be accompanied by financial support for the business to keep its head above water.

Business rates relief, the Coronavirus Job Retention Scheme, and a moratorium on evictions had been key to retail businesses surviving multiple lockdowns, the firm said.

Chief executive Nigel Oddy said the company was in a “fundamentally stronger position” following a successful recapitalisation and CVA.

New Look reported an operating profit for the year to March 27 of £177m against a £338m loss the year before.

Total sales in the 13 weeks to June 26 increased 181 per cent on last year, as the country emerged from Covid restrictions and shoppers looked to refresh their post-lockdown wardrobes.

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