New Look Says Web Sales Rise 50%

Fashion chain New Look said sales at its internet site jumped 50.1 per cent in the year to March helping to bring the retailer back into profit.

The firm said it made improvements to its web site during the year including the introduction of click and collect and order-in-store.

Online sales now account for 7.5 per cent of the business. The growth helped boost total sales at the group by 2.5 per cent to £1.48 billion in the year to March 30. Like-for-like sales in the UK fell 0.5 per cent with sales on that basis in the final six months of the year increasing by 2 per cent.

Profit before tax was £3.1 million compared to a loss of £54.5 million a year earlier. New Look refinanced in April and replaced part of its debt with lower interest loans.

'We have turned a corner but we can see a lot of other corners we want to turn,' said chairman Alistair McGeorge.