New Look news and archive

From CIO to COO to CEO: What New Look’s leadership change says about its new era

For much of the past two years, New Look has frequently appeared in headlines for the wrong reasons. It closed its Irish business, accelerated UK store closures, cut head office jobs, secured a 30 million pound cash injection to fund digital transformation and was reportedly exploring strategic options after unsolicited takeover approaches. Fast...

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Marks & Spencer taps New Look veteran for store director role

Marks & Spencer has named Elaine Cartwright as its new store director for innovation and implementation. The appointment comes as the British department store continues on its 300 million pound store rotation programme, which has focused on new openings and retail renewals. Cartwright most recently served as retail director UK & ROI at New Look,...

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Business

Rothschild reportedly appointed to oversee New Look's strategic review

The owners of New Look are said to have appointed bankers at Rothschild to oversee a strategic review, which is expected to lead to a sale by next year. Alcentra and Brait, shareholders that have owned the British retailer since 2020, are believed to have turned to Rothschild to advise as they plot a possible exit, according to Sky News. The...

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Retail

From New Look to Select Fashion: Inside the retail collapse threatening the UK high street

The UK retail landscape continues to face mounting challenges. Amid rising operational costs, the long-tail impact of the pandemic and ongoing supply chain disruptions, many businesses are navigating an increasingly volatile environment. An uncertain outlook remains for a significant portion of the sector – and the country is on track to see a...

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Business

Is New Look going up for sale?

A new report has emerged suggesting British retail giant New Look could soon be up for sale. According to Sky News, the clothing retailer’s owners, Alcentra and Brait, alongside New Look’s management, are reviewing options with advisors that could lead to the auctioning off of the business. The media outlet said that New Look is looking into...

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Business

New Look onboards 100 percent of core suppliers to TrusTrace platform

British retailer New Look, one of the UK’s leading womenswear brands in the 18-44-year-old sector, has successfully onboarded 100 percent of its core supplier base onto digital traceability platform TrusTrace. In a statement, New Look said the move to utilise TrusTrace technology would allow it to "more effectively map and manage its supplier...

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New Look secures 30 million pounds to fund digital growth plan

High street fashion retailer New Look, one of the UK’s leading womenswear brands in the 18-44 sector, has secured a 30-million-pound investment from its shareholders to accelerate its digital transformation and optimise its online experience for customers. The retailer said the significant investment would “supercharge” its digital growth as it...

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New Look liquidates Irish business, 26 stores to close

Fast fashion retailer New Look is preparing to wind down its operations in Ireland, where a subsidiary for the company has been appointed a provisional liquidators following a battle with widening losses over several years. The High Court has approved the appointment for New Look Retailers (Ireland) Limited after its parent company said it was...

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Retail

New Look reportedly accelerating store closures ahead of incoming Budget

British retailer New Look is believed to be on the verge of accelerating its store closure programme ahead of the UK’s incoming Budget, which will see a number of tax increases fall into place from April. According to The Times, around a quarter of the retailer’s store network are understood to be at risk when leases expire. This could put a...

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New Look revenues decline amid tough trading conditions

New Look’s accounts for the full year show that total revenue declined to 735.4 million pounds due to store closures and tough trading conditions. The company’s operating profit rose to 17.4 million euros but adjusted Ebitda decreased to 46.7 million pounds following reduction in year-on-year sales but boosted by targeted cost savings. The...

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Business

New Look partners with ITF on supply chain employee protections

British retailer New Look has revealed a new partnership with the International Transport Workers’ Federation (ITF) through which it hopes to ensure the protection of transport workers’ human and labour rights among its supply chain. The duo have established a new memorandum of understanding (MoU) through which New Look has agreed to conduct...

Retail

New Look to invest 3.3 million pounds into Manchester retail network

British fast fashion brand New Look is set to invest 3.3 million pounds into updating its Manchester-based retail network over the next year ahead of a possible nationwide upgrade. In the city the company currently operates 20 stores, which will each be subject to a range of trial initiatives incorporating in-store technology, improved loyalty...