New Look news and archive

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...

Business

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...

Business

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...

BusinessFeatured

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...

Business

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...

Business

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,...

Business

New Look taps new supply chain partner Wincanton

New Look has teamed up with Wincanton, a British logistics provider, which will take care of all the fashion retailer’s national transport services in the frame of a three-year contract, starting in July 2023. Wincanton will not only be responsible for the product allocation from the retailer’s distribution centre in Newcastle-under-Lyme to its...

Business

New Look head office staff face new redundancies

New Look employees are facing redundancy once more, as the retailer continues to restructure as an omnichannel and digital first business. This time it is the retailer's head office roles which have come under scrutiny. Over the past few years New Look has reduced its real estate portfolio by almost 50 percent, from 800 stores to just over 400...

Business

New Look to put 500 jobs at risk at Lymedale distribution centre

New Look is reportedly putting up to 500 jobs at risk after it was forced to shut down night shifts at its lead distribution centre in Lymedale, Newcastle Under Lyme. According to a report by Drapers, the British retailer was driven to shut down the shifts due to a reduction in its store estate. Workers impacted by the move will enter into a...

Business

New Look to trial charging for online returns

New Look is said to be trialling a 1.99 pound return fee for online orders in order to offset any possible price rises. The fee will apply to postal returns only, with in-store returns for online orders to continue being free. In a statement to FashionUnited, a New Look spokesperson commented: “New Look has taken the decision to trial a 1.99...