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 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

Burton announce VAT price reductions will be passed on to all customers from the 1st December

Following The Chancellor of the Exchequer Alistair Darling’s decision to cut Value Added Tax (VAT) from 17.5 per cent to 15 per cent, Sir Philip Green’s Arcadia Group has released a statement on behalf of a group of the high street’s most powerful retailers, confirming they will pass the full VAT cut onto their customers.

The change in the VAT rate will mean huge changes for all the shops in the Arcadia group, as all shelving and register prices will need to be updated. However, Burton, Arcadia, Mosaic Fashions, Bhs, Marks & Spencer, New Look and Next all confirmed in the statement they planned to pass the 2.5% VAT cut on to customers on Monday, or soon afterwards.

The group of retailers covers some of the biggest names on the high street, including; Topshop, Topman, Wallis, Dorothy Perkins, Miss Selfridge, Evans, Burton, Bhs, Oasis, Coast, Karen Millen, Warehouse, Principles, Shoe Studio Group, Jane Norman, New Look and Next fascias.

The statement by Sir Philip said: “Following the recent announcement reducing VAT from 17.5% to 15%, equating to a price reduction of 2.13%, we are pleased to confirm that it is our intention to pass the benefit of this reduction onto our customers.”

The price reduction will be given on standard rated product and will be applied on, or as soon after Monday December 1 as possible.

The statement added that this would, “allow for the complexities of implementing the changes required.”

It is unclear how the price cuts will be implemented, however many retailers are expected to take off the discount at the till point rather than by re-ticketing stock.

For Burton, all mens clothing, mens suits and mens accessories will be adjusted at point of purchase as of 1st December 2008.

About Burton
Burton has a long history in men’s clothing and fashion, having been founded in 1903 by Montague Burton in Chesterfield. Burton now has over 400 outlets all over the UK and Ireland making it one of the country’s largest sellers of casual and formal menswear, including mens shirts, jeans, jackets, knitwear, shorts, shoes, underwear and accessories.

Customers can also shop online from the Burton.co.uk website which offers free returns in-store or by post and fast delivery to their home.

Via EPR Network
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