annual report - New Look

Jun 6, 2017 - Our flexible fast-fashion business is built on an agile global supply chain with the ... Anders and the team have already put robust plans in place to address ..... successful Concept format, with around 65% of the owned store portfolio ..... activities including coffee mornings, a travel challenge, some vigorous.
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ANNUAL REPORT

2016/17 N E W LO O K R E TA I L G R O U P L I M I T E D

05810406

CONTENTS

Overview 04 Chairman’s statement

12

CEO’s statement

14

Strategic report Our business model

18

Year in review

22

Financial review

38

Risks and uncertainties

48

Corporate social responsibility

52

Directors’ report Directors’ report

56

Directors’ responsibilities statement

60

The Board

62

Financial statements Independent auditors’ report – Group* financial statements

66

Consolidated income statement

67

Consolidated statement of comprehensive income

68

Consolidated balance sheet

69

Consolidated statement of changes in equity

71

Consolidated statement of cash flows

72

Notes to the Group financial statements

73

Independent auditors’ report – company accounts

114

Company balance sheet

115

Company statement of changes in equity

116

Notes to the Company financial statements

117

Contacts

122

*

The Group consists of New Look Retail Group Limited (‘NLRGL’) and its subsidiaries.

ANNUAL REPORT & ACCOUNTS

GROUP OVERVIEW

ANNUAL REPORT & ACCOUNTS

GLOBAL REACH

KEY Owned stores* Franchise E-commerce (Own website & 3rd party partners)

STORE NUMBERS Owned

FY17 FY16

Asia

China

110 85

Europe

Belgium

9 10



France

30 28

Germany*

0 2



Poland

18 17



Republic of Ireland

29



United Kingdom

592

575

788

746

Total owned

29

Franchise Asia

5 14

Africa

1 2

Middle East

69

Europe

9

11

Total franchise

84

92

TOTAL OWNED AND FRANCHISE

872

838



65

** includes includes concessions concessions stores stores

6

GROUP OVERVIEW

7

ANNUAL REPORT & ACCOUNTS

ABOUT US

8

GROUP OVERVIEW

New Look is an international multichannel retail brand, offering exciting, on-trend, value-fashion for women, men and teenage girls. Our business strategy focusses on initiatives spanning Brand, Multichannel, International Expansion, Product Development, Menswear and Gross Margin Improvement. We have 872 stores, comprising 592 in the UK and a further 280 globally. Our e-commerce offering serves over 120 countries worldwide, supported by convenient delivery options. Our flexible fast-fashion business is built on an agile global supply chain with the ability to respond quickly to trends. We focus on delivering value for money and ‘newness’, with hundreds of new lines landing every week. Our ranges of apparel, footwear and accessories are designed with broad age appeal and global relevance. We have over 18,000 people in our stores and support centres committed to making sure we deliver great service – wherever, whenever and however customers choose to engage with us.

9

ANNUAL REPORT & ACCOUNTS

OPERATIONAL HIGHLIGHTS

10

GROUP OVERVIEW