Fashion chain New Look caught up in retail woes

New Look is the latest clothing retailer to unveil a slump in sales, with same'‘floorspace revenues falling 7 per cent in a 'tough' first trading quarter to 25 June '“ two days after the Brexit vote.

New Look said sales fell amid a 'tough' retail market. Picture: New Look/PA Wire
New Look said sales fell amid a 'tough' retail market. Picture: New Look/PA Wire

The fashion chain blamed “unfavourable market conditions” as it said shoppers stayed away from shops in what was a difficult spring/summer season for clothes retailers amid uncertainty ahead of the EU referendum, wet weather in April and June and the early fall of Easter.

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Last year, New Look was snapped up by South African billionaire Christo Wiese in a deal worth some £780 million.