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New Look reports 78.7% ecommerce boost

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New Look today reported a 78.7% rise in online sales, helping it to healthy overall sales growth despite flat store sales.

The Dorset fashion retailer said today that like-for-like sales, which strip out the effect of store openings and closures, grew by 0.3% in the first quarter of its financial year, and New Look brand like-for-like sales up by 1%. But the fast growth in ecommerce helped it to report group sales up by 4.9% in the 13 weeks to June 29. The company also said earnings before interest, tax, depreciation and write-downs were up by 13.1%.

The New Look statement said it was cautious on the outlook for consumer spending but confident in its ability to make progress.

Chief executive Anders Kristiansen said he was encouraged by the results, which came despite the coldest UK spring for 50 years.

“Our disciplined attitude to cost and stock management has enabled us to make further strong progress in a difficult and volatile trading environment,” he said. “We are confident that the improvement to our rnages, the refurbishment of our stores and our growing online strength will underpin further progress.”

The company said its second quarter had started well, and that better weather was bringing a “more favourable sales mix with a higher proportion of full price sales and a reduced number of markdowns”.

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