Skip navigation

Gloucestershire Business News

New Look not out of the woods yet

Fashion retailer New Look saw like-for-like sales plunge in its first quarter, although it insists its business restructure will make a positive difference in the long-term.

2018 was a tough year for New Look, with stores including the Gloucester branch closing, and the company entering into a Company Voluntary Agreement (CVA). But it looks like it isn't out of the woods in 2019 either.

For the 13 week period ending 29th June, the retailer, which has stores in Cheltenham and Stroud, recorded a 10.1 per cent fall in core like-for-like sales compared with a year earlier, as reported by Retail Gazette. It blamed the fall in sales on unseasonably bad weather in May and June, along with continued consumer uncertainty.

But the company said there has already been an improvement in trading performance for the second quarter, with like-for-like sales up 2.2 per cent.

Refinancing earlier this year has seen long-term debt significantly reduced from £1.35 billion to £350 million and an addition of £150 million of new long-term capital. New Look said this has now secured its long-term future.

Related Articles

Significant step taken towards filling the 'Missing Link' on the A417 in Gloucestershire Image

Significant step taken towards filling the 'Missing Link' on the A417 in Gloucestershire

A crucial next step in the long battle to fill the so-called ‘Missing Link’ on the A417 in Gloucestershire has been taken.

Major construction firm reveals £245 million loss Image

Major construction firm reveals £245 million loss

One of the UK’s biggest construction firms has revealed losses of £245 million wand warned that revenue would flatline.

Architect converts old Cotswold bungalow into super green designer home Image

Architect converts old Cotswold bungalow into super green designer home

A neglected bungalow in a Cotswold village has been transformed into a state-of-the-art, two-storey family home built to Passivhaus principles by a Gloucestershire architect.

Developers in Gloucestershire to be made to go carbon neutral Image

Developers in Gloucestershire to be made to go carbon neutral

After celebrating declaring Gloucestershire on a crusade to tackle the climate emergency the county council has now turned its attention to developers.

Copyright 2019 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.