New Look average monthly number of employees worldwide 2012-2023
Store closures
New Look is but one of many UK retailers struggling to survive on the high street. Between 2010 and 2019 they were many large retail closures in UK high streets, resulting in huge job losses. New Look itself lost over 100 stores in the UK to closures as part of restructuring plans that followed a CVA.
Revenue and profits falling
A closer look at New Look’s financial results gives us clues about the dire straits the clothing retailer seems to have been in for a while. In 2022, the New Look Group reported worldwide revenues had increased on the previous year, but still continued the downwards trend since 2016. Even the retailer’s e-commerce business, which flourished particularly around 2017, has taken a blow in more recent years, except for during 2020/21 when e-commerce generally rocketed due to lockdowns.