New Look narrows Q1 losses but revenues decline

For its first quarter, New Look Retail Holdings Limited said that the company managed to reduce statutory loss before tax by 12.8 million pounds (15.8 million dollars) to 2.7 million pounds (3.3 million dollars) following restructuring compared to loss of 15.5 million pounds in the same quarter last year. Total revenues, the company added, however declined to 258.3 million pounds (319.4 million dollars) compared to 300.6 million pounds last year and like-for-like sales were down 10.1 percent reflecting lower footfall due to highly unseasonable weather and ongoing consumer uncertainty.