Anders Kristiansen, CEO, said:
“I am pleased with what the new team has achieved in its first year. We have delivered a good result, growing both sales and EBITDA and maintaining our market share by value at 5.8%.
It has been a year of real strategic development and I am delighted with the progress we have made in both our international strategy and multichannel offer. Our decision to build scale in four key geographies namely: China, Poland, Russia and Germany, is, we believe, key to New Look’s future continued success. In the year we opened our first five stores in China and bought back our Polish Franchise providing us a solid base from which to grow. Our strategy is to focus on building and developing the core New Look brand in the UK, internationally and online and on that basis we have taken the decision to explore strategic options for Mim, including potential divestment.
Multichannel continues to power ahead. We have made improvements to our mobile app, and all E-commerce orders in the UK and beyond are handled by our highly automated distribution centre at Lymedale, Staffordshire. Our policy of forming strategic partnerships with 3rd Party E-commerce providers mean that our product is now available in over 195 countries.
We’ve made great progress against our strategic objectives during FY14, and delivered on what we set out to achieve in the year. While remaining vigilant on costs, we will continue to invest in identified growth areas. I am confident that New Look is going into the new financial year in a good position to meet the challenges that lie ahead.”
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