New Look slumps

STRUGGLING New look has posted another set of dismal figures as it continues to consider store closures.

The fashion retailer, owned by south african investment group Brait, posted a pre-tax loss of £123.5m in the three quarters to December, while sales slumped 6.3pc to £1bn. The High street chain, which has 594 stores in the UK, booked an underlying operating loss of £ 5.1m, which compares to a £111.5m profit in the same period last year. alistair McGeorge, executive chairman, said the poor showing reflected a challenging market and heavy discounting.