UK: Fashion Chain New Look Doubles Profits
Leading UK budget fashion retailer New Look on Tuesday posted a 103.6 per cent year-on-year surge in annual pre-tax profits to £62.3 million and said it is enjoying a blistering start to the new fiscal year. The operator of around 500 stores said group sales jumped nearly 22 per cent to £572m from the year-ago period with like-for-like sales up 5.5 per cent. In the first eight weeks of the new year, UK like-for-like sales were up 10.6 per cent.
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