SOUTH coast fashion retailer New Look has doubled its profits and seen sales surge 25 per cent over the past year, thanks to revitalising ranges and revamping its stores.
This time last year, the Dorset group reported a slump in profits and sales on a downwards slide.
At the time it pledged to improve its ranges and supply chain, and focus away from its small-store formats towards larger shops.
The firm showed pre-tax profits for the 53 weeks to March 30 rose 103.6 per cent to a record £62.3m while turnover rose 24.6 per cent to £585.4m.
Chief executive Stephen Sunnucks, who joined two years ago, said the last year had been a "transforming year" for New Look.
He said the group had been closing smaller shops and reopening larger ones in their place, while refurbishing the small stores it is keeping new exteriors and layouts.
New Look has 487 shops. A company spokesman said larger stores gave it more scope for sales growth.
To improve its supply chain, the group opened a new distribution centre in Doncaster in September, to add to one in Weymouth.
Mr Sunnucks added: "We have been working hard at broadening the appeal of our product, to appeal to over-25-year-old customers as well as younger customers."
Previously, the group's clothes had appealed largely to the teenage end of the market.
The company boss added: "I think consumer spending in the second half is less certain than in the first half but we are very confident in our strategy."
New Look's results are also flattered by having an extra week trading compared with last year, which was the important pre-Easter week which added £4.6m to profits.
Shareholders will be paid a dividend of 7p, up 14.8 per cent on last year.
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