UK: New Look books Christmas sales increase
New Look said it performed well following a “difficult” start to the quarter
UK value fashion retailer New Look has said it performed well over the Christmas period, despite extensive discounting on the high street.
In the seven weeks to 28 December, total sales increased 2.6%, with UK like-for-like sales up 1.5%.
Gross margin in the period was also higher due to a stronger full price sales mix, the retailer said.
In the UK, sales grew 2.9%, while e-commerce sales were up 62%.
CEO Anders Kristiansen said the company performed well following a "difficult" start to the quarter, due to an unseasonably warm October.
Nonetheless, he added: "The festive trading window was smaller this year, with customers delaying purchases in order to seek out the best promotions before Christmas.
"In spite of the backdrop of extensive Christmas discounting across the high street, our stronger full price sales performance ensured that we were able to protect our margin - a central component of our strategy - and we also saw our market share grow."
Kristiansen said New Look is "optimistic" about the year ahead but remain watchful of the pace of recovery in the UK economy and the continued pressures facing its customers.
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