High street fashion retailer New Look made a profit of £13.8 million (pre-tax) in its first half compared to a loss of £13.6 million in the same period last year.
In the 26 weeks running up to the 28 September, group revenue rose by 6% to £753.2 million while group like-for-like sales edged up 1.9%. New Look’s like-for-like sales in the UK rose by 2.6% as UK revenues climbed 5% to £579.4 million.
New Look chief executive Anders Kristiansen said: “Our strategy is delivering and there is real momentum in the business. I am particularly pleased with the margin improvement brought about by our continued focus on cost control, tight stock management and reduced discounting.
“E-commerce continues to power ahead. The improved functionality of our site and enhanced delivery options have been well received by customers and we are continuing to invest in this very important part of our business.”
New Look has continued its store refurbishment programme with 199 shops made over by the end of September. The retailer is also expanding internationally and planning to open the first of six stores in China by the spring of 2014.
