More New Look woes as the fashion chain axes 70 stores after failing to ignite shopper interest
Fashion chain New Look continued to decline as it pressed ahead with axing 70 stores
Fashion chain New Look continued to decline as it pressed ahead with axing 70 stores.
Same-store sales fell 4per cent in the 13 weeks to June 23 as it lowered prices and broadened its range.
But New Look said more customers were collecting online orders in its shops, helping to boost sales.
Profits surged 19per cent to £14.4million as it made £70million in savings. However, analysts were unimpressed.
Mamequa Boafo, senior retail analyst at GlobalData, said: ‘Its collaboration with TV presenter Rochelle Humes this year has done very little to ignite shopper interest.’