New Look group retail sales in the UK and ROI 2012-2023
New Look is a value for money fashion retailer that has been in UK high streets since 1969. In the past years, the company has been facing dwindling financial and operational numbers. As shown in this statistic, revenue has been falling since 2016. In 2018, the retailer registered losses after a period of shrinking profit in the preceding years. As of March 2023, the revenue of New Look in the UK and the rest of Ireland amounted to 627.3 million British pounds.
Dipping sales
New Look is one the leading multichannel retailers in the UK with a successful e-commerce business. However, the downward trend did not spare the retailer’s online sales. In 2018, along with its UK retail activities, New Look e-commerce sales took a turn for the worse. The online channel recovered during coronavirus, but by 2023 e-commerce sales were 219 million pounds, but that represented the second year in a row that the figure fell.
New Look stores in jeopardy
The financial difficulty New Look found itself in triggered anxieties over store closures as well. Up until the 2017/2018 financial year, New Look maintained stability in the number of stores it owns worldwide. However, later in the year the retailer announced the termination of its operations in China. On top of that, the number of stores in the UK has since steadily fallen.
Dipping sales
New Look is one the leading multichannel retailers in the UK with a successful e-commerce business. However, the downward trend did not spare the retailer’s online sales. In 2018, along with its UK retail activities, New Look e-commerce sales took a turn for the worse. The online channel recovered during coronavirus, but by 2023 e-commerce sales were 219 million pounds, but that represented the second year in a row that the figure fell.
New Look stores in jeopardy
The financial difficulty New Look found itself in triggered anxieties over store closures as well. Up until the 2017/2018 financial year, New Look maintained stability in the number of stores it owns worldwide. However, later in the year the retailer announced the termination of its operations in China. On top of that, the number of stores in the UK has since steadily fallen.
