New Look reduces its British footprint

The fashion retailer New Look, owned by the South African investing company Brait since 2015, has commenced a cost-reduction restructuring. This aims to cut 10% of the store network, i.e. 60 out of 593 British units, including closure of the Marble Arch and Oxford Circus flagships. In the first 9 months of the current fiscal year, New Look posted total sales falls of 10.6%, including a 10.7% drop in the U.K., which houses almost 60% of the 906 active stores. As New Look has struggled