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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



TODAY, United Kingdom:
Brands available include Goyard, Chanel, Moncler, Gucci and Loewe.
TODAY, India:
The fashion house expects a two-fold increase in sales through online channels.
YESTERDAY, France:
The relaunch of the retail space took place five months after the renovation.
YESTERDAY, USA:
German luxury sportswear brand Bogner increases its presence in the US market.
DAY BEFORE YESTERDAY, France:
French retail giants Auchan and Intermarché have presented a collaborative proposal.
DAY BEFORE YESTERDAY, USA:
This will be the ninth full-line retail store in the Little Words Project portfolio and an addition to two pop-up stores.
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Mall of Tripla GLA:914 932 SF
ADDRESS: Veturitie 13
Finland . Helsinki
Mall of Tripla
Jardim Pamplona GLA:118 403 SF
ADDRESS: R. Pamplona, 1704 - Jardins São Paulo
Brazil . Sao Paulo
Jardim Pamplona
Liberty Center GLA:828 821 SF
USA . Cincinnati
Liberty Center
Charlotte Premium Outlets GLA:400 000 SF
ADDRESS: 5404 New Fashion Way Suite 100, Charlotte, NC 28278
USA . Charlotte
Charlotte Premium Outlets


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