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New Look unlikely to list this year
Mon, 21 May, 2012
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New Look unlikely to list this year
Mon, 14 Mar 2011, 09:55:00
Fashion chain <b>New Look</b> is unlikely to list on the stock market this year due to difficult trading, chairman John Gildersleeve has indicated.

The company reported a 3.4% fall in like for like sales (which exclude the impact of new openings and closures) in the 15 weeks to 8 January. While the fall in sales was largely due to the extreme winter weather, New Look also said margins were hit by promotions.

Gildersleeve is quoted in the Daily Telegraph today as saying: "The market is not going to improve in the near term because fashion retailing is going to have a difficult year - a combination of a consumer who is more challenged than they have been for many years, and cost increases that the industry has no real experience of."

The private equity firms behind New Look, Apax and Permira, postponed a float of the company last year due to difficult markets.

New Look opened its first shop in Taunton in 1969. It now has more than 1,000 shops worldwide.


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