British fashion retailer New Look has reported a marked decline in revenue and a significantly wider loss for the financial year ended 29 March 2025, as store closures and challenging market conditions weighed heavily on performance.
Total revenue for the 52 weeks to 29th March 2025 fell to US $ 929 million, down from the previous year, with the company attributing the decrease to continued tough trading conditions, persistent inflationary pressures and rising employee costs. Store numbers also declined, with the retailer’s physical estate reduced to 337 locations from 356 in the prior year.
Profitability deteriorated significantly. Adjusted EBITDA dropped sharply to US $ 25 million from US $ 63 million in 2024. New Look’s statutory loss before tax widened to US $ 104 million, a stark increase from a US $ 5 million loss in the prior year. The expanded loss reflected weaker sales, higher administrative costs and an exceptional US $ 55 million loss related to the provisional liquidation of New Look Retailers (Ireland) Limited in February 2025. Gross margin also softened to 48.1%, partly due to higher discounting to clear stock in a difficult retail environment.
In response to these challenges, shareholders provided aUS $ 40 million cash injection in March 2025 to accelerate digital transformation and enhance the online customer experience, including improvements to the “Club New Look” loyalty programme. The company also extended its senior secured financing arrangements by 12 months to October 2027, strengthening liquidity.
Despite the downturn, New Look maintained its position as the third-largest womenswear retailer for the 18-44 age demographic in the UK and held the top market share in women’s dresses, jeans and footwear.
Bharat Tex Special Report 2026 
