A tale of two fashion retailers
9th August 2017
Two high street fashion retailers are reporting very different results.
New Look has seen profits fall by 60 per cent and a sharp downturn in sales, as reported by Sky News.
The company said underlying operating profit fell to £12.1m for the 13 weeks to 24 June, down from £30.5m in the same period last year.
New Look said conditions on the high street are tough for all retailers, but admitted its recent products had missed the mark.
Meanwhile, White Stuff, which caters for a slightly older and more affluent consumer, has seen sales rise by 6.2 per cent, as reported by Retail Gazette. Profits fell by 29.4 per cent to £14.4 million, but this is largely down to the company's ongoing expansion. White Stuff has opened 32 stores over the last year, 18 of them in the UK.
Both White Stuff and New Look have stores in Gloucester, Cirencester and Cheltenham.
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