New Look Announces Exit From Russia And Ukraine

Here world Clothing and shoes Xiaobian of the network to introduce the New Look first half profit increase of 30.7% will withdraw from the Russian market.

New Look Group Ltd., Britain's second largest women's clothing retailer, announced its first half year's results in the first half of 2015 fiscal year. Russia And Ukraine market.

New Look Group Ltd. joined the Serbia company Delta Holdings last year to enter the Russian market through authorized cooperation. Both sides have already opened 20 stores there. The group originally planned to purchase these 20 stores for direct operation and carry out large-scale expansion. However, due to the geopolitical crisis in Russia and its periphery, Delta Holdings decided to leave Russia, and New Look Group Ltd. will follow.

While ending Russia's business, New Look Group Ltd. will shift its energy to speed up China's expansion. At present, the brand has online stores on the Tmall platform of Alibaba Group Holding Ltd. (NYSE:BABA) Alibaba, and also has 14 entity stores. By the end of this year, the number of stores will reach 20.

New Look Group Ltd. CEO Anders Kristiansen said at a performance press conference that the rising proportion of the brand's international income will help offset the long-term impact of the depressed consumer confidence and adverse weather factors in the UK.

In the first half of September 27th, the income of New Look brand (excluding French Mim brand business) increased 5.6% to 713 million 600 thousand pounds, compared with 675 million 500 thousand pounds in the same period last year. British business realized revenue of 627 million 400 thousand pounds, an annual increase of 8.3%, and e-commerce revenue recorded an increase of 36.4%. Sales in the same store grew by 6.9%, while sales in the same store increased by 8%, which increased by more than 8% in the first quarter. The two quarter was dragged down by warmer weather, with an increase of only 0.5%. Adjusted EBITDA was 115 million 800 thousand pounds, an increase of 7.9% over the same period last year, 107 million 300 thousand. Operating profit increased 10.6% to 86 million 500 thousand pounds. Pre tax profits rose by 30.7% to 28 million 100 thousand pounds.

New Look Group Inc. group's total revenue (including French Mim brand business) was 788 million 600 thousand pounds, an increase of 4.7% over last year's 753 million 200 thousand pounds. pre-tax profit Almost doubled to 26 million 100 thousand, compared to 13 million 800 thousand last year.

Due to the unstable market environment, and the anti season warm weather in September extended to October, despite the improvement in consumer confidence, the group said it remained cautious about the whole year's outlook.

New Look Group Inc. is currently owned by private equity fund Apax Partners LLP, Permira Advisers LLP and founder Tom Tom. The group postponed the IPO plan in 2010. When it was considered whether to be listed, Anders Kristiansen responded today in its performance press conference: "when shareholders want to go public, we will be listed."