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French division of New Look pushes it into a loss



New Look, the fashion retailer, has seen increased sales both at home and abroad, but the loss made by its French business has pushed the business into the red.
The company is owned by Permira and Apax, the private equity groups, and it has reported a loss of £55m as it has had to written down assets on its Mim chain in France.  The group said Mim had seen an improvement during the last two months, but it was still giving thought to selling the chain.
The retailer reported an increase in sales of 2.2% to the year ending March.  Its online sales are continuing to increase, and is up by 64% for the past year compared to 46% during the previous year, The Guardian says.

The group has refitted its UK stores, revamped its website and developed apps for tablets and mobile phones.  Its efforts to generate a buzz in social media circles has seen 2.9m Facebook likes, with 2.7m visitors to its website weekly.

The retailer is looking to open more UK stores and plans to open an additional 10 stores in China which will see a doubling of the current number of stores.


More about shopping malls in France



Jan 24, 2020, USA:
Mars Retail Group has announced upcoming discoveries at Disney Springs, Mall of America, and Berlin.
Jan 23, 2020, Slovenia:
The volume of investments in the construction of the shopping and entertainment center was about 150 million euros.
Jan 22, 2020, India:
H&M's collaboration with a famous Indian designer is an indicator of the company's interest in this rapidly growing market.
Jan 21, 2020, United Kingdom:
The fashion chain marks the growth of sales and intends to consolidate the results with the opening of 18 new outlets.
Jan 17, 2020, France:
The retail space was created in collaboration with Galeries Lafayette department store.
Jan 17, 2020, USA:
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Charlotte Premium Outlets GLA:400 000 SF
ADDRESS: 5404 New Fashion Way Suite 100, Charlotte, NC 28278
USA . Charlotte
Charlotte Premium Outlets
Hillcrest Mall GLA:585 758 SF
ADDRESS: 9350 Yonge St, Richmond Hill, ON L4C 5G2
Canada . Richmond
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I Viali GLA:452 084 SF
ADDRESS: Via Dei Cacciatori 111 - 10042 Nichelino TO - Piemonte
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Dania Pointe GLA:975 000 SF
ADDRESS: 292-344 North Bryan Road, Dania Beach, FL 33004
USA . Fort Lauderdale
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