Fashion chain New Look has said that an 8% rise in UK sales, as well the fact it managed to maintain its gross margin, was behind a 89% rise in profits for the first half.
The chain added that its international expansion plans were progressing well, with the intention that a strong international base will reduce the impact that UK weather has on its business.
New Look, whose first shop opened in Taunton in 1969, now has over 1,100 stores worldwide including in China, which is a key growth market for the firm. It already operates 14 stores in the country with plans to have 20 opened by the end of the year.
However, New Look also announced that it was closing its 20 franchise-operated Russian stores and its six Ukrainian stores, citing “political uncertainty” amidst tit-for-tat sanctions which have damaged the Russian economy and the deteriorating relationship between countries over the future of Ukraine.