New Look has announced sales of £1.53 billion for the year to March 29th 2014, though losses at its French chain Mim which it acquired in 2000 have led to the retailer ending the year with a pre-tax loss of £55 million. The Mim chain of 356 stores may now be sold enabling New Look to focus on further growing its UK online business – ecommerce sales grew by 63.9 per cent in 2013-14, and on developing sales in China, Poland, Russia and Germany. Speculation over whether the business was pursuing a potential stock market listing was ruled out by CEO Anders Kristiansen “for the forseeable future”. Kristiansen also said that interest has been received in the Mim chain.
New Look operates 1100 stores in 24 countries
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