×
592
Fashion Jobs
GENESTORE INDIA PRIVATE LIMITED
Area Sales Manager/ Business Development Executive-Mumbai
Permanent · Mumbai
ANAND RATHI
Cluster Head/ Area Sales Manager
Permanent · Chennai
PROPERTYXPO.COM
Area Sales Manager| Real Estate Portfolio Management | Gurgaon
Permanent · Gurugram
MAHALAKSHMI PROFILES PRIVATE LIMITED
Area Sales Manager
Permanent · Hyderabad
ARCHANGEL HR SOLUTIONS
Consultant Planning, Merchandising, Sourcing
Permanent · Chennai
KARADI PATH EDUCATION COMPANY PRIVATE LIMITED
Senior Area Sales Manager - Karadi Path Education Company
Permanent · Chennai
SENSO FOODS PRIVATE LIMITED
Area Sales Manager/sr. Sales Executive For "Corporate Sales"
Permanent · Ahmedabad
ALGOR SUPPLYCHAIN SOLUTIONS PRIVATE LIMITED
Hiring For Sales Manager in Logistic co| Hyderabad | Goa
Permanent · Bengaluru
A2V INSURANCE BROKERS PRIVATE LIMITED
Area Sales Manager
Permanent · Ludhiana
VIKRAM TEA PROCESSOR PVT LTD
Area Sales Manager
Permanent · Mumbai
BHARTI AIRTEL LIMITED
Territory Manager- Dth Sales -Namakkal
Permanent · Namakkal
ARKRAY HEALTHCARE PVT. LTD
Opening For Medical Business Manager(mr)- Delhi Chennai & Bangalore
Permanent · Chennai
PUMA
Studio Operations Manager
Permanent · Bengaluru
ELICO LIMITED
Requirement For Production Manager
Permanent · Hyderabad
FINO PAYMENTS BANK
Territory Sales Manager - Merchant & Distributor Onboarding - up
Permanent · Faizabad
FINO PAYMENTS BANK
Territory Sales Manager - Merchant & Distributor Onboarding - up
Permanent · Mahoba
ELECTRONICA FINANCE LTD
Area Sales Manager - Machinery Loan(Delhi ,Faridabad & Ghaziabad)
Permanent · Faridabad
IOTECHWORLD AVIGATION PVT LTD
Production Manager Engineer (Design & Development)
Permanent · Gurugram
CLASSIC SEARCH PVT LTD
Manager Production
Permanent · Bengaluru
CLASSIC SEARCH PVT LTD
Manager Production
Permanent · Bengaluru
SWASTIKA INVESTMART LTD
Opening For Branch Manager/Area Sales Manager
Permanent · Raipur
PARAISO REALTY PVT LTD
Sales Manager /Associate / Senior Associate - Real Estate Sales
Permanent · Lucknow
By
Reuters
Published
Nov 12, 2013
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

New Look says current trading "more challenging"

By
Reuters
Published
Nov 12, 2013

LONDON, England - British fashion retailer New Look swung to a first half profit driven by revenue growth, particularly online, as well as reduced discounting and cost savings, though it cautioned that recent trading has been tough.

"In line with the rest of the sector, current trading is more challenging and as yet we are not seeing any benefits of economic recovery feed through to our customers' pockets," the firm, owned by private equity groups Apax and Permira and founder Tom Singh, said on Tuesday.

Kelly Brook for New Look AW13

It added that it was "well placed" for the key Christmas trading period.

Britain's retailers have enjoyed a better few months recently as the economy has moved back into growth, though a warm autumn has hampered some clothing chains' ability to shift winter ranges and executives see continued pressure on consumers with wage rises lagging inflation.

New Look, which trades from over 1,100 stores across 32 countries, made a pretax profit of 13.8 million pounds ($22.0 million) in the 26 weeks to Sept. 28, reversing a loss of 13.6 million pounds in the same period last year, on group revenue up 6 percent to 753.2 million pounds.

Group sales at stores open over a year rose 1.9 percent, with UK like-for-like sales up 2.6 percent.

The firm's online sales jumped 78.8 percent, reflecting improved functionality on its website and better delivery options.

Gross margin at group level rose 40 basis points due to tighter control of stock and fewer markdowns.

New Look slumped to a loss in 2011-12 but made a small profit in the 2012-13 year.

After a refinancing in May 2013 it ended the 2012-13 year with net debt of 1.1 billion pounds.

The firm said it sees a "huge" international opportunity and plans to open its first store in China by spring 2014.

New Look also said Alastair Miller, its long term chief financial officer, will leave the firm when a successor is appointed.

© Thomson Reuters 2021 All rights reserved.