British High Street Brand New Look Declined 4.2% In The First Quarter.

High street in England

New Look Group Ltd. released its first quarter results on Tuesday. In the first quarter of June 25th, the group's revenue fell 4.2% to 3.542 billion pounds, compared with 369 million 800 thousand pounds a year ago.

New Look Group Ltd. CEO Kristiansen Kristiansen is no longer boasted about the guidance for the business of the season, only known as the group has experienced a difficult quarter, but is still implementing the long-term growth plan.

Anders Kristiansen, who has worked in China, is currently gambling in China.

In order to increase weights and raise valuations for the group's IPO plan, but in the Chinese market with fierce competition and strong reliance on brand awareness, New Look's brand performance is poor, and it continues to shop.

In the first quarter, the group added 9 new stores to 94 square meters in China.

Anders Kristiansen has served the Vero Moda and Jack & Jones JACK&JONES parent company Bestseller Fashion Group bestseller group as the deputy chief executive of the group's China market.

As of the 2016 fiscal year of March 26th, New Look, the Chinese market, had a 8.8% increase in sales in the same store, although it was substantially improved compared with -11.1% in the 2015 fiscal year, but this data also shows that the brand lacks a strong appeal in the Chinese market. Moreover, the marketing activities of New Look in the Chinese market are also extremely rare. New Look wants more time to win the extremely picky Chinese consumers and the fiercely competitive Chinese market, though the group claims to have 290 thousand fans in micro-blog and WeChat.

In addition to the Chinese market, men's clothing is also a business that New Look Group Ltd. hopes to focus on.

Anders Kristiansen said that the revenue increased by 21% in the first quarter, but at present,

Shop owners accounted for a small proportion of the total stores. The business began only in the autumn of 2015. The group just announced at the beginning of the month that it plans to add 25 men's clothing stores in the next 5 years, including the launch of two overseas markets in China and France in the coming year.

In the first quarter, the New Look brand business could be reduced by 6.6% compared with the sales, of which the British market was 7% lower than that of the sales. The self operated e-commerce business recorded an increase of 9%, while the third party's e-commerce platform business recorded a 28.7% increase in sales.

After the adjustment of the group in the first quarter, EBITDA plummeted 29% to 43 million 400 thousand pounds, compared with 6110 pounds per year in the same period last year, operating profits from continuing operations plunged 35.5% to 30 million 500 thousand pounds, 47 million 300 thousand pounds a year earlier, 2 million 700 thousand pounds in the pre tax profit period, and 7370 7370 million loss in the same period last year (including 93 million acquisition and financing costs).

For the first quarter of the downturn, New Look Group Ltd. said that due to adverse market conditions.

However, the current market is hard to generate favorable conditions, not only the global economic downturn, but also Britain faces the instability of Europe.

In the 2016 fiscal year, the group's revenue recorded an increase of 5.4%.

At the end of the first quarter, the Group operates 852 stores worldwide, 578 of which are located in the UK and operates an e-commerce website that serves more than 120 countries and regions in the world.