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New Look is a value-for-money fashion retailer that has been on UK high streets since 1969. In the past years, the company has been facing dwindling financial and operational numbers. As shown in this statistic, revenue has been falling since 2016. In 2018, the retailer registered losses after a period of shrinking profits in the preceding years. As of March 2024, the revenue of New Look in the UK and the rest of Ireland amounted to million British pounds. 

Dipping sales

New Look is one of the leading multichannel retailers in the UK with a successful e-commerce business. However, the downward trend did not spare the retailer’s online sales. In 2018, along with its UK retail activities, New Look's e-commerce sales took a turn for the worse. The online channel recovered during the coronavirus pandemic, but by 2023, e-commerce sales were *** million pounds, which represented the second year in a row that the figure fell.

New Look stores in jeopardy

The financial difficulty New Look found itself in triggered anxieties over store closures as well. Up until the 2017/2018 financial year, New Look maintained stability in the number of stores it owns worldwide. However, later in the year, the retailer announced the termination of its operations in China. On top of that, the number of stores in the UK has since steadily fallen.