New Look manages to stabilise profits in Q1

Providing its first quarter update for the period ending June 23, 2018, New Look Retail Group Limited said that revenues were down 2.7 percent to 329.4 million pounds (426.7 million dollars), while New Look brand like-for-like sales dropped 4 percent compared to 8.2 percent decline in the same quarter of FY18. The company added that adjusted EBITDA stabilised in the quarter, rising 1.5 percent to 27.6 million pounds (35.7 million dollars) supported by cost savings. Underlying operating profit increased 19 percent to 14.4 million pounds (18.6 million dollars).