New Look has filed its accounts for the year to the end of March and they show both challenges and progress. The company — or New Look Retailers Limited to give it its official name — is reportedly up for sale. So what condition would any buyer find it in?
Photo: Sandra Halliday
Bearing in mind that the latest year was the 52 weeks to late March 2025, rather than 53 weeks in the prior year, it saw a revenue fall that was about more than just the loss of an extra trading week.
The company said that total revenue dropped to £687.7 million from £735.4 million due to “store closures and tough trading conditions”.
The gross margin fell to 48.1% from 48.7% due to higher levels of discounting, the overall challenging market and unseasonal weather.
Meanwhile the company’s adjusted EBITDA fell to £18.47 million from £46.65 million due to that reduction in sales and the increased promotional activity.
The operating loss was £47.6 million after a profit of £17.4 million on the same basis is the year before. The statutory loss before tax widen to £77.2 million from a £3.6 million loss the previous year, partly due to those lower sales but also increased admin expenses. They included the cost of liquidation of the Irish business (which added up to more than £40 million) and increased staff costs. Finance expense was also higher for the business.
The net loss for the period was also £77.2 million after a £3.7 million loss in the prior year.
But the company got a £30 million cash injection from its shareholders to accelerate its digital transformation during the period.
Other upbeat news during the year was that the company remains a key part of the UK womenswear retail scene (it was number three overall for womenswear in the 18 to 44 age range both online and offline). It also maintained its number one market share position in women’s dresses, jeans and footwear.
And its total known customers grew by 15% to 10 million with its CRM customer base growing 32% to 4.5 million.
It ended the year with 337 stores compared to 356 in the previous period.
CEO Helen Connolly told FashionNetwork.com: “The past year has been about sharpening our focus and strengthening our existing foundations. We have made deliberate choices to simplify the business and invest where we know we can win – in digital, data and customer experience.
“Moving through the festive season, we are seeing encouraging signs of momentum, with strong customer loyalty and engagement, along with an expanding digital base. We remain focused on our goal to double digital orders from £500m to £1bn by 2030. There is still more to do, but our direction is clear and our strategy is working. We are entering this next phase with confidence, discipline and a strong understanding of what matters most to our customers.”
As her upbeat stance suggests, the company has been putting a number of growth initiatives in place since the financial year ended and only last month named a new retail director responsible for the store estate and for implementing its omnichannel strategy across stores “to drive sales and enhance the customer experience”.
It also recently launched its first-ever loyalty programme, Club New Look; added all its major suppliers to the TrusTrace global platform to standardise its supply chain traceability and compliance data management; and got that big cash injection. The £30 million will be spent on its data, AI and e-commerce platforms “to enhance [the] seamless, personalised shopping experience for its 10 million customers”. As well as doubling digital orders from to £1 billion by 2030, it wants to grab a 10% online market share by FY28.
Authentic Brands Group has expanded its partnership with longtime Eddie Bauer licensee Outdoor 5 (Oved) to accelerate the outdoor brand’s digital and wholesale growth across North America.
Eddie Bauer taps Oved to lead North American e-commerce and wholesale. – Eddie Bauer
Under the new agreement, Oved will assume responsibility for Eddie Bauer’s e-commerce and wholesale operations, as well as design and product development in the United States and Canada. The move reflects a strategic push to build on Eddie Bauer’s established online presence and engaged community of outdoor enthusiasts.
Catalyst Brands will continue to operate Eddie Bauer’s retail and outlet stores across North America. The structure is designed to align Oved’s strengths in wholesale and e-commerce with Catalyst’s retail expertise.
“Our relationship with Oved has been built on trust, shared vision, and operational excellence,” said Jarrod Weber, global president, sports and lifestyle at Authentic, owner of the Eddie Bauer brand.
“This next chapter aligns Eddie Bauer with a partner with expertise in the outdoor space, while allowing Catalyst to focus on its successful lifestyle portfolio. Together, we’re setting the brand up for long-term, sustainable growth.”
Oved brings expertise in outdoor and performance apparel, and has played a key role in Eddie Bauer’s development for more than 20 years.
“We are thrilled to expand our partnership with Authentic and take on this exciting new role with Eddie Bauer,” said David Oved, CEO of Outdoor 5 (Oved).
“Eddie Bauer’s legacy of quality, performance, and adventure is unmatched, grounded in a century-long commitment to creating products that inspire confidence, comfort, and a genuine connection to the outdoors. We see tremendous opportunity to meet consumers where they are – shopping online and through leading multi-brand retailers, by enhancing the brand’s reach, growing its digital footprint, and delivering exceptional products across the market.”
Henkel AG has submitted a takeover offer for Olaplex Holdings Inc, according to people with knowledge of the matter, after the shampoo maker lost over 90% of its value since its initial public offering. The stock rose more than 36%.
Olaplex
Olaplex and Dusseldorf, Germany-based Henkel are in talks about a potential deal that could come together within weeks, said the people, asking not to be identified discussing confidential information.
Private equity firm Advent is Olaplex’s largest shareholder, with close to 75% ownership, according to data compiled by Bloomberg.
No final decision has been made and the talks could end without a deal, the people said. Representatives for Advent and Henkel declined to comment, while a spokesperson for Olaplex didn’t immediately respond to a request for comment.
Olaplex was up 25% to $1.69 at 2:45 p.m. in New York trading Wednesday, giving the company a market value of about $1.1 billion. It was worth $16 billion when it went public in 2021.
Olaplex, which makes shampoo and other hair products, was among a group of capital markets darlings such as sneaker maker On Holding AG and coffee chain Dutch Bros Inc. that went public at peak valuations.
Henkel manufactures chemicals for industrial and commercial goods and is the owner of hair-product brands including Schwarzkopf, its website shows.
Advent bought Olaplex in 2019 without disclosing terms, according to a statement at the time. Its products are sold to individuals consumers and are also used in professional hair salons.
The sports company Puma has appointed Nadia Kokni as vice president, global brand marketing, effective January 1. In this role, she will report directly to chief brand officer, Maria Valdes.
Nadia Kokni – PUMA
In her new role, Kokni will oversee the global brand marketing strategy and creative direction, as well as integrated marketing and communications. Her appointment comes as Puma advances its global brand ambitions and sharpens the storytelling around its iconic products and innovations.
Kokni brings extensive international experience in shaping and transforming leading global brands across sports, fashion and lifestyle. She has held senior positions at JD Sports, H&M, adidas, Tommy Hilfiger and, most recently, Hugo Boss, where she served as senior vice president of global marketing and communications. In that role, she led a large-scale brand transformation and accelerated digital initiatives.
“Nadia is a world-class marketing expert who has demonstrated her ability to build modern global brands through strategic clarity, creative excellence and cultural relevance,” said Valdes.
“Her appointment comes at an important time for Puma, as we bring product development and storytelling even closer together. With her leadership, Nadia will help us tell clearer product stories around the world, build greater brand desirability and forge deeper relationships with our consumers.”
Her appointment follows the decision to bring brand marketing, product, creative direction, innovation and go-to-market together into a single global organisation under the leadership of Valdes.
“I am delighted to join Puma at such an exciting time for the brand. The company has an impressive heritage and a clear opportunity to take a leading role at the intersection of sport, culture and performance. I look forward to working with Maria and the teams around the world to tell bold, meaningful stories that inspire our consumers and accelerate Puma’s next phase of growth,” said Kokni.
She replaces Richard Teyssier, who has decided to leave the sporting goods manufacturer to pursue new challenges outside the company.
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