New Look’s losses lessened in the first half of its financial year, as it worked to transform its business.
It made a pre-tax loss of £11.2 million compared to £41.9 million the year before.
Like-for-like sales dropped by 7.4% in the UK and Ireland after business was impacted by consumer uncertainty and seasonal volatility.
Total revenue was also down, dropping to £523.8 million from £601.1 million the previous year.
Nigel Oddy, New Look chief operating officer, said: “The first half of this financial year has been incredibly busy for New Look as we focused on strengthening the operational foundations of the business. We have reviewed our entire product range, improved our lead times, enhanced the customer journey, revitalised the company’s values, and have begun to make the necessary changes to our leadership.”
