New Look news and archive

New Look onboards 100 percent of core suppliers to TrusTrace platform

British retailer New Look, one of the UK’s leading womenswear brands in the 18-44-year-old sector, has successfully onboarded 100 percent of its core supplier base onto digital traceability platform TrusTrace. In a statement, New Look said the move to utilise TrusTrace technology would allow it to "more effectively map and manage its supplier...

Business

New Look secures 30 million pounds to fund digital growth plan

High street fashion retailer New Look, one of the UK’s leading womenswear brands in the 18-44 sector, has secured a 30-million-pound investment from its shareholders to accelerate its digital transformation and optimise its online experience for customers. The retailer said the significant investment would “supercharge” its digital growth as it...

BusinessFeaturedMember

New Look liquidates Irish business, 26 stores to close

Fast fashion retailer New Look is preparing to wind down its operations in Ireland, where a subsidiary for the company has been appointed a provisional liquidators following a battle with widening losses over several years. The High Court has approved the appointment for New Look Retailers (Ireland) Limited after its parent company said it was...

Retail

New Look reportedly accelerating store closures ahead of incoming Budget

British retailer New Look is believed to be on the verge of accelerating its store closure programme ahead of the UK’s incoming Budget, which will see a number of tax increases fall into place from April. According to The Times, around a quarter of the retailer’s store network are understood to be at risk when leases expire. This could put a...

BusinessMember

New Look revenues decline amid tough trading conditions

New Look’s accounts for the full year show that total revenue declined to 735.4 million pounds due to store closures and tough trading conditions. The company’s operating profit rose to 17.4 million euros but adjusted Ebitda decreased to 46.7 million pounds following reduction in year-on-year sales but boosted by targeted cost savings. The...

BusinessMember

New Look partners with ITF on supply chain employee protections

British retailer New Look has revealed a new partnership with the International Transport Workers’ Federation (ITF) through which it hopes to ensure the protection of transport workers’ human and labour rights among its supply chain. The duo have established a new memorandum of understanding (MoU) through which New Look has agreed to conduct...

Retail

New Look to invest 3.3 million pounds into Manchester retail network

British fast fashion brand New Look is set to invest 3.3 million pounds into updating its Manchester-based retail network over the next year ahead of a possible nationwide upgrade. In the city the company currently operates 20 stores, which will each be subject to a range of trial initiatives incorporating in-store technology, improved loyalty...

BusinessMember

New Look partners with TrusTrace to support sustainability strategy

British high-street fashion chain New Look is partnering with traceability and compliance solutions provider TrusTrace to gain greater visibility across its supply chain through suppliers and assist in identifying responsible sourcing and business continuity risks. The move is part of New Look’s ‘Kind to Our Core’ sustainability programme, where...

BusinessFeaturedMember

New Look posts FY pre-tax loss, completes refinancing deal

High street fashion retailer New Look has completed a 100 million pound refinancing deal which it says it will use to boost its future growth plans. The company reported a pre-tax loss for the year ended March 25 that widened to 87.8 million pounds from 25.5 million pounds the previous year. This loss included an impairment charge of 47.4...

BusinessMember

New Look on path to secure refinancing

British fashion retailer New Look is believed to be in advanced talks about a possible debt refinancing that would aim to support it through a turbulent trading environment. The high street fashion chain is reportedly close to finalising a 100 million pound fund that would replace a term loan that matures in June 2024. The move was reported by...

Retail

New Look introduces return kiosks to select stores

Retail chain New Look has rolled out a number of return kiosks across a selection of its stores in a bid to reduce the time spent by staff when processing such returns. The kiosks, powered by returns platform ZigZag, will also be used as a method of collecting data, to better understand the needs of the customer and why they are opting to return...

BusinessMember

New Look reportedly seeking 100 million dollar refinancing deal

High street fashion retailer New Look is believed to be in talks with lenders over a possible 100 million dollar refinancing of its debt, which matures in June 2024. The company is understood to be working with advisers Deloitte on securing the long-term loan just two years after its most recent restructuring. According to sources for Sky News,...