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New Look To Open Menswear Stores


new look aug 15Roger Wightman, New Look’s chief creative officer, said: “Menswear is a key strategic priority for New Look, and the opening of menswear standalone stores represents a natural next step for us.”

Earlier this year the high street chain was bought by the South African billionaire Christo Wiese for £1.9bn. On Tuesday, it announced a first-quarter loss of £73.7m owing to the transaction costs of the sale. Profits before tax and the refinancing costs showed a 9% rise to £19.3m. UK like-for-like sales were up 4.1% and own website sales rose strongly, up 38.7%, with online orders at the mobile site up 97% over the period.

The company reports that its expansion plan into China was going well, with 39 stores in the country and a further 40 signed up for the full year.

New Look is set to open the five menswear stores in London and other key locations later this year, and will close menswear departments in around 25 stores stating there was too little space to show the full range.

Images courtesy of New Look http://www.newlook.com 

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