New Look said it performed well over Christmas as it maintained margins through a strong full-price selling strategy.
The company’s UK sales rose 2.9%, with UK like-for-like sales rising 1.5% over the seven weeks to 28 December. New Look emphasised that gross margin was higher due to a stronger full price sales mix.
Total sales increased 2.6% over the period. E-commerce sales rose 62%, with sales through its own website rising 48%.
CEO Anders Kristiansen said: “New Look has performed well over this period. After a difficult start to the quarter, on account of an unseasonably warm October, trading returned to more normal levels. However, the festive trading window was smaller this year, with customers delaying purchases in order to seek out the best promotions before Christmas.
“In spite of the backdrop of extensive Christmas discounting across the High Street, our stronger full price sales performance ensured that we were able to protect our margin – a central component of our strategy – and we also saw our market share grow.
“We are optimistic about the year ahead but remain watchful of the pace of recovery in the UK economy and the continued pressures facing our customers.”