New Look is continuing its exit strategy from its international operations after its bold plan to build a major global business fell short on the back of changing consumer habits and over-ambitious expansion.
The embattled UK retail industry was dealt another blow on Friday after news emerged that Arcadia is considering a restructuring process which could result in significant store closures and job losses.
Bullring owner Hammerson is trying to offload over £900m of property, including a number of retail parks in the UK, after seeing the retail crisis send the value of its portfolio down by almost 6% in 2018.
New Look was upbeat on Wednesday as it focused on the positives in its end-of-Q3 report rather than its continuing sales fall. But it seemed justified in that view as the business is clearly improving.
The fire that destroyed the central Belfast branch of Primark last year highlighted how important the brand is to the city’s shopping, so it's no surprise that the value-focused retailer is to open a second store there.