New Look slumps after trying to be trendy

NEW Look’s returning boss has admitted sales suffered because the fashion retailer tried to be too ‘young and trendy’.

Alistair McGeorge, who spearheaded the store through a turnaround in 2011 before leaving the business in 2014, has vowed to revive the ailing brand, which booked a loss of £10.4m in the six months to September 23, compared to a £59.3m profit the year before.

The newly appointed executive chairman said problems facing the business have been ‘ selfinflicted’. He said New Look had ‘over-committed’ in its strategy to provide trendy clothing for customers, alienating its shoppers in their late 20s and 30s as a result.

Stores are fighting to win shoppers aged 16 to 24 since they are behind the drive in fast fashions.

As part of his strategy McGeorge plans to bring the firm ‘back to its heartlands’ by producing fashion pieces that appeal to a range of age groups.

But he warned improvements would not happen until the second half of its financial year because the firm is still trading with the stock it already has. New Look posted a 8.6pc plunge in samestore sales in the half year, while sales on its website dropped 7.6pc.

The only bright spot was items sold on other websites, such as Amazon and Asos, where sales were up a whopping 17pc.

Analysts declared yesterday that shoppers loved New Look clothes – but hated its shops.

McGeorge said: ‘Whilst we’re not anticipating a reversal in fortunes overnight, I am confident we will implement the necessary changes to get the company back on track.’