Online sales boost New Look

<p>New Look has boosted its online sales by 50 per cent.</p>

New Look's latest financial results indicate online sales have been a major driver for the retail company in the last year.

Its full-year results for the 12 months to the end of March 2013 show group sales rose by 2.5 per cent to £1.48 billion, though like-for-like sales dipped 0.7 per cent.

New Look Europe like-for-likes were up 3.2 per cent, but there was a 0.5 per cent drop in the UK.

Commenting on the figures, chairman Alistair McGeorge stated he is delighted to announce such a "strong" set of financial results.

He said: "The strength of our financial turnaround has also enabled us to address our capital structure, with the successful refinancing of our debt, extending maturities to 2018."

The release of weak retail sales for the UK recently led to sterling losing value against competitor currencies, according to Andy Scott, premier account manager at foreign currency exchange brokers HiFX.

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