New Look CEO Anders Kristiansen to leave the Group; Danny Barrasso appointed Interim CEO

Weymouth, UK, 2017-Sep-08 — /EPR Retail News/ — The Board of New Look Retail Group Ltd (the “Company” or “New Look”) today announces that Anders Kristiansen has stood down as Chief Executive Officer (CEO) after almost five years.

Danny Barrasso, Managing Director UK & ROI, has been appointed as Interim CEO with immediate effect.

The Board has launched a search process to identify and appoint a permanent successor to Anders.

John Gnodde, Chairman, said:

“On behalf of the Board, I would like to thank Anders for the fantastic contribution he has made during his time here at New Look. Under his leadership, the company has made significant progress and we wish him well for the future.

“As New Look embarks on its next phase of development, we have mutually agreed that it is the appropriate time for a change to the leadership of the company. Danny and the wider Executive Team have the full support of all the shareholders to provide continued operational progress and leadership as we search for a permanent CEO.”

Anders Kristiansen said:

“I have really enjoyed my time at New Look and it has been a privilege to work with so many amazing, hard-working and talented people. I am proud of what we have achieved as a company and have every faith in New Look’s future prospects and progression.”

– Ends –

Media enquiries:
Headland
Lucy Legh
Rob Walker
Orla Swindells

+44 (0)20 3805 4822
newlook@headlandconsultancy.com

SOURCE: New Look Group Limited

 

New Look Retail Group appoints Paula Dumont López as Chief Creative Officer

London, 2017-Jun-28 — /EPR Retail News/ — The Board of New Look Retail Group Ltd (the “Company” or “New Look”) today (27 Jun 2017) announces the appointment of Paula Dumont López as Chief Creative Officer.

She will join the Board in September 2017 and replace current CCO Roger Wightman. Following a successful transition Roger will assume a part-time consultative role while remaining on the Board.

Paula brings a wealth of experience in the fashion industry, and a proven track record in buying, merchandise and design. She joins from Esprit where she has been Senior Vice President Head of Esprit Women since 2013. Before this, Paula spent 10 years at Inditex in several roles, including Head of Product at Zara Basic.

Anders Kristiansen, CEO of New Look, commented:

“Paula is an amazing addition to our team. Her expertise in identifying trends and leadership experience in product, buying and design will be a great asset to us. We are delighted to welcome Paula to the Board and look forward to what we know will be her significant contribution to New Look and the execution of our strategy.

“I would also like to take this opportunity to thank Roger for the invaluable contribution he has made to New Look over the past 27 years. He has been hugely influential in turning New Look into the global fast-fashion brand that it is today and I am particularly pleased that we will continue to benefit from his experience on the Board as he steps into a consultative role.”

About Paula Dumont López

Paula started her career at Zara as a fabrics buyer, before graduating to a number of senior buying roles. In 2009 she became Head of Product for Zara Basic. Paula joined Esprit as Senior Vice President, Head of Esprit Women in 2013 assuming responsibility across all aspects of buying, merchandise and design. She has also been head of the lifestyle division (comprising Bodywear, Sports, Accessories and Shoes) since 2016.

About Roger Wightman

Roger joined New Look in February 1990 as a Buyer and was promoted through the business to become Group Buying Director for Womenswear and Brands, before being appointed to Managing Director in 2013 and Chief Creative Officer in 2015.

About New Look

New Look is an international multichannel retail brand, offering exciting, on-trend, value-fashion for women, men and teenage girls, and is the UK’s No. 1 retailer for women under 35*.

Our long term business strategy comprises of initiatives spanning Brand, Multichannel, International Expansion, Product Development and Menswear.

We have 872 stores, comprising 592 in the UK and a further 280 globally. We also have a fastgrowing e-commerce offering, serving over 120 countries worldwide, supported by convenient
delivery options.

Our flexible fast-fashion business is built on an agile global supply chain with the ability to respond quickly to trends. We focus on delivering value for money and ‘newness’, with hundreds of new lines landing every week. Our ranges of apparel, footwear and accessories are designed with broad age appeal and global relevance. They are delivered by our great people in stores and support centres, who ensure we deliver great service – wherever, whenever and however customers choose to engage with us.

* Based on Kantar Worldpanel Total Womenswear U35 published data 52 weeks to 12 March 2017 (by value)

Media enquiries:
Headland
Lucy Legh
Rob Walker
+44 (0)20 3805 4822
newlook@headlandconsultancy.com

Source: New Look

New Look Retail Group Limited announces results for the 39 weeks and 13 weeks ended 24 December 2016

  • CONTINUED EXECUTION OF DIVERSIFICATION STRATEGY
  • CHALLENGING MARKET CONDITIONS TO CONTINUE INTO FY18

London, 2017-Feb-08 — /EPR Retail News/ —

Financial headlines

Q3 (YTD) FY17
39 wks
(£m)
Q3 (YTD) FY16
39 wks
(£m)
Change Q3 FY17
13 wks
(£m)
Q3 FY16
13 wks
(£m)
Change
Revenue 1,140.7 1,175.3 (2.9%) 422.6 419.3 +0.8%
Adjusted EBITDA 153.8 205.0 (25.0%) 66.9 83.3 (19.7%)
Underlying Operating Profit 111.5 165.4 (32.6%) 52.2 70.6 (26.1%)
Profit Before Tax 29.2 (5.5)* 30.1 48.2 (37.6%)

 

  • Group LFL sales: YTD -7.0%; Q3 -4.6%
  • UK LFL sales: YTD -7.3%; Q3 – 4.7%
  • Own website sales: YTD +12.9%; Q3 +18.2%
  • 3rd Party E-commerce (3PE) sales +36.8%; Q3 +73.0%

Operational headlines

We continue to make progress across all of our strategic initiatives: Brand, International, Multichannel, Product development and Menswear.

  • Continued delivery of positive LFL sales in China despite challenging market conditions. Opened 100th store in line with targeted expansion plan.
  • Encouraging performance in Menswear, a further four standalone stores opened taking total to 19.
  • Good multichannel performance with record Black Friday online sales. Strong 3PE growth benefitting from diversification into growing international markets.
  • Positive customer response to our enhanced Beauty offer launched in November.

Current Trading and Outlook

We expect UK trading conditions to remain challenging through Q4 FY17 and into FY18. We are well hedged for FY18, remain highly cash generative and will continue to focus on improving our business performance and delivering our diversification strategy. We are well positioned and will continue to invest in our key strategic initiatives.

Anders Kristiansen, Chief Executive Officer, said:

“The UK market has continued to be extremely challenging, with reduced footfall and a highly promotional environment on the high street, resulting in a disappointing like-for-like sales performance. Despite this, total sales for the quarter were level as a result of good performances outside the UK, online and in Menswear, proving that our strategy of diversification is the right one for our business. It remains key to our growth to continue to diversify our offer and to invest in our priority international markets. We are therefore particularly delighted to announce that we have surpassed the milestone of 100 stores in China.

“Globally, fast fashion is getting faster. The consumer mindset is shifting, driven by social media, to a ‘buy now, wear now’ mentality. We have responded accordingly by improving our buying processes, working to achieve a faster supply chain, tightening our stock control and strengthening our Buying and Design teams to deliver a stronger product proposition.

“We are clear on the actions needed to capture customer spend, but these will take time to implement. While we expect 2017 to be tough and are setting our plans accordingly, we strongly believe in our ability to continue to execute our strategy.”

* including non-recurring exceptional transaction costs of £93.4m relating to the Brait acquisition and bond refinancing

About New Look

New Look is an international multichannel retail brand, offering exciting, on-trend, value-fashion for women, men and teenage girls, and is the UK’s No. 1 retailer for women under 35*.
Our long term business strategy comprises of initiatives spanning Brand, Multichannel, International Expansion, Product Development and Menswear.

We have 867 stores, comprising 591 in the UK and a further 276 globally. We also have a fast-growing e-commerce offering, serving over 120 countries worldwide, supported by convenient delivery options.

Our flexible fast-fashion business is built on an agile global supply chain with the ability to respond quickly to trends. We focus on delivering value for money and ‘newness’, with hundreds of new lines landing every week. Our ranges of apparel, footwear and accessories are designed with broad age appeal and global relevance. They are delivered by our great people in stores and support centres, who ensure we deliver great service – wherever, whenever and however customers choose to engage with us.

* Based on Kantar Worldpanel data Women U35 published data 24 weeks to 18 December 2016 (by value)

Media enquiries:

Headland
Lucy Legh
Rob Walker
Ewa Lewszyk
+44 (0)20 3805 4822
newlook@headlandconsultancy.com

Source: New Look

New Look appoints Richard Collyer as Chief Financial Officer

LONDON, 2016-Dec-23 — /EPR Retail News/ — The Board of New Look is delighted to announce the appointment of Richard Collyer as Chief Financial Officer with immediate effect.

Richard was formerly Group Finance Director and has been performing the CFO role on an interim basis since March 2016.

Richard joined New Look in 2008 and has performed a series of senior financial roles. After a period as Executive Assistant to the CEO, Richard was promoted to Group Finance Director in 2014. Prior to joining New Look, Richard spent 13 years with PwC in audit and transactional roles.

Anders Kristiansen, CEO of New Look, commented: “We are delighted to appoint Richard as our new CFO. Richard has a wealth of experience in New Look and I am very pleased to be able to promote from within our leadership team.”

Richard Collyer commented: “I am very excited by the opportunities in this role. I look forward to working with Anders and the New Look team to continue to achieve our strategic aims and growth plans.”

About New Look

New Look is an international multichannel retail brand, offering exciting, on-trend, value-fashion for women, men and teenage girls, and is the UK’s No. 1 retailer for women under 35*.

Our long term business strategy comprises of initiatives spanning Brand, Multichannel, International Expansion, Product Development and Menswear.

We have 850 stores, comprising 584 in the UK and a further 266 globally. We also have a fast-growing e-commerce offering, serving over 120 countries worldwide, supported by convenient delivery options.

Our flexible fast-fashion business is built on an agile global supply chain with the ability to respond quickly to trends. We focus on delivering value for money and ‘newness’, with hundreds of new lines landing every week. Our ranges of apparel, footwear and accessories are designed with broad age appeal and global relevance. They are delivered by our great people in stores and support centres, who ensure we deliver great service – wherever, whenever and however customers choose to engage with us.

* Based on Kantar Worldpanel published data 24 weeks to 25 September 2016 (by value)

Enquiries:
Headland
Lucy Legh
Rose Beynon
Rob Walker
+44 (0)20 3805 4822
newlook@headlandconsultancy.com

Source: New Look

New Look announces H1 FY17 financial Results

NEW LOOK RETAIL GROUP LIMITED (“New Look”) Results for the 26 weeks ended 24 September 2016

LONDON, 2016-Nov-08 — /EPR Retail News/ — Continued execution of strategy in a challenging market

Headlines

  • Revenue -5.0% to £718.1m (H1 FY16: £756.0m)
    • Group like-for-like sales -8.4%
    • UK like-for-like sales -8.8%
    • Own website sales +9.5%
    • 3rd Party E-commerce sales +21.5%
  • Adjusted EBITDA -28.6% to £86.9m (H1 FY16: £121.7m)
  • Underlying operating profit -37.4% to £59.3m (H1 FY16: £94.8m)
  • Loss before tax £0.9m (H1 FY16: Loss before tax £53.7m*)

* including non-recurring exceptional transaction costs of £93.2m relating to the Brait acquisition and bond refinancing

Anders Kristiansen, Chief Executive Officer, said: “Following a tough Q1, trading conditions have remained extremely challenging through Q2. Whilst sales have been affected by external factors such as falling consumer confidence, we have held our gross margin stable in the quarter and seen good revenue growth online and internationally. We remain confident in our long term strategy and continue to make good progress against our strategic initiatives.

“Recent macro events highlight the importance of our international strategy and the need for an agile and diversified proposition which keeps pace with the ever-faster speed of trends driven by social media. We will soon reach the milestone of 100 stores in China and we continue to focus on our multichannel approach in our key priority international markets of China, France, Poland and Germany. Furthermore, we remain encouraged by the positive reaction to our standalone Menswear offer reaching 15 standalone stores, and we are excited about the potential for our Beauty range.

“Despite the challenges in the first half, we are excited and well-prepared for our peak trading period to come in Q3. We have increased our out-of-home marketing across key markets to improve ‘top of mind’ brand awareness, alongside an impactful Christmas window scheme.”

About New Look

New Look is an international multichannel retail brand, offering exciting, on-trend, value-fashion for women, men and teenage girls, and is the UK’s No. 1 retailer for women under 35*.

Our long term business strategy comprises of initiatives spanning Brand, Multichannel, International Expansion, Product Development and Menswear.

We have 850 stores, comprising 584 in the UK and a further 266 globally. We also have a fast-growing e-commerce offering, serving over 120 countries worldwide, supported by convenient delivery options.

Our flexible fast-fashion business is built on an agile global supply chain with the ability to respond quickly to trends. We focus on delivering value for money and ‘newness’, with hundreds of new lines landing every week. Our ranges of apparel, footwear and accessories are designed with broad age appeal and global relevance. They are delivered by our great people in stores and support centres, who ensure we deliver great service – wherever, whenever and however customers choose to engage with us.

* Based on Kantar Worldpanel published data 24 weeks to 25 September 2016 (by value)

Media enquiries:

Headland
Lucy Legh
Rose Beynon
Rob Walker
+44 (0)20 3805 4822
newlook@headlandconsultancy.com

Source: New Look

New Look Retail Group H1 FY16: Revenue up 5.9% to £756.0m

NEW LOOK RETAIL GROUP LIMITED (“New Look”) First Half Results for the 26 weeks ended 26 September 2015

LONDON, 2015-11-13 — /EPR Retail News/ — Strong First Half performance with significant progress made against strategic initiatives

Financial Highlights*

  • Revenue +5.9% to £756.0m (H1 FY15: £713.6m)
    • New Look Brand like-for-like sales +4.9%
    • UK like-for-like sales +4.7%
    • Own website sales +37.9%
    • Third Party E-commerce sales +47.2%
  • Adjusted EBITDA +5.1% to £121.7m (H1 FY15: £115.8m)
  • Underlying operating profit +10.9% to £94.8m (H1 FY15: £85.5m)
  • Profit before tax (adjusted for the non-recurring exceptional transaction and refinancing costs in Q1 FY16) +40.6% to £39.5m (H1 FY15: £28.1m)
  • Non-recurring exceptional transaction costs of £93.2m** relating to the Brait acquisition and refinancing, resulting in a statutory loss before tax of £53.7m

* from continuing operations
** consisting primarily of debt premium repayments due to the refinancing. New debt structure has resulted in annualised interest savings of over £30m

Operational Highlights

Following a strong Q1, we have delivered further growth in Q2 due to the continued successful execution of strategy:

  • Our Menswear offer is performing well, with further improvements in our product and the successful launch of our first standalone menswear stores.
  • Successful progress in China, with 52 stores open by the end of H1 FY16, and leases signed to take us to 85 stores by March 2016.
  • A further 34 stores now trading in the Concept format, taking us to a total of 385 stores. We continue to roll this format out across the remainder of the estate.
  • Convenience across all channels remains key to our customer proposition. Additional delivery options have driven own website sales and footfall into stores; 31% of our e-commerce customers use Click & Collect.

Anders Kristiansen, Chief Executive Officer, said:

“These excellent results show the strength of the New Look offer and the strategic progress we have made in our product, stores and website. Against an unpredictable consumer backdrop we are especially pleased to have seen further Q2 sales improvement and market share growth, on what were already strong Q1 figures.

“We have also seen a positive reaction to our Autumn/Winter collection and we have been delighted with the initial performance of our men’s standalone stores.

“Our Chinese stores continue to perform well as customers continue to react favourably to our fashion-forward offer. We remain on target to have 85 stores open in the country by year end.

“With the support of our new owners, Brait, we are planning to increase investment in our strategic initiatives to accelerate our growth.

“As for current trading, the sector has benefitted from the return to more normalised weather conditions compared to last year. We continue to manage the business prudently but the positive reaction to our current product offer gives us confidence as we head into Christmas.”

Tulchan Communications LLP
Lucy Legh
Will Smith
020 7353 4200

About New Look
Founded in 1969, New Look has grown from a single store to become a dynamic, international, multichannel retail brand with a unique value-fashion offer in apparel, footwear and accessories for women, men and teenage girls. New Look is the No. 2 value retailer for women’s clothing and accessories market in the UK (source: Kantar Worldpanel for year to September 2015). The New Look Group has over 800 stores across the globe in 21 countries, and our estate of 571 UK stores places New Look in immediate reach of the majority of the British population.

H1 FY16 Results

SOURCE: New Look Group Limited