{"id":139903,"date":"2018-06-12T06:58:54","date_gmt":"2018-06-12T06:58:54","guid":{"rendered":"http:\/\/freeonlinetranslators.net\/news\/english\/new-look-slashes-prices-after-sharp-fall-in-annual-sales\/"},"modified":"2018-06-12T06:58:54","modified_gmt":"2018-06-12T06:58:54","slug":"new-look-slashes-prices-after-sharp-fall-in-annual-sales","status":"publish","type":"post","link":"https:\/\/freeonlinetranslators.net\/news\/english\/new-look-slashes-prices-after-sharp-fall-in-annual-sales\/","title":{"rendered":"New Look slashes prices after sharp fall in annual sales"},"content":{"rendered":"<figure>                                  <img decoding=\"async\" alt=\"new look store\" src=\"https:\/\/ichef.bbci.co.uk\/news\/320\/cpsprodpb\/22F7\/production\/_100515980_hi045410678.jpg\"\/>Image copyright                  Getty Images                                                    <\/figure>\n<p class=\"caps\">Fashion chain New Look has slashed prices, saying 80% of the clothing it sells is now under \u00a320 as it tries to turn around its business.<\/p>\n<p>The move comes after the retailer reported a sharp fall in sales for its  2017-18 financial year.<\/p>\n<p>Like-for-like sales fell 11.7% and website sales tumbled 19%.<\/p>\n<p>New Look is one of many retailers this year that struck a Company Voluntary Agreement (CVA) under which a company buys time to sort out its debts.<\/p>\n<p>It said it had made &quot;significant progress&quot;, which will be reflected in next year&#039;s results.<\/p>\n<p>Last November it brought back Alistair McGeorge, who ran the business between 2012 and 2014.<\/p>\n<p>Mr McGeorge said: &quot;Last year was undoubtedly very difficult for New Look, with a well-documented combination of external and self-inflicted issues impacting our performance.<\/p>\n<p>&quot;We still have more work to do to restore long-term profitability, but I am confident we are now better placed to achieve this than we were when I returned to the business over six months ago.&quot;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Image copyright Getty Images Fashion chain New Look has slashed prices, saying 80% of the clothing it sells is now under \u00a320 as it tries to turn around its business.<\/p>\n","protected":false},"author":1,"featured_media":139904,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-139903","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-english"],"_links":{"self":[{"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/posts\/139903","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/comments?post=139903"}],"version-history":[{"count":0,"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/posts\/139903\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/media\/139904"}],"wp:attachment":[{"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/media?parent=139903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/categories?post=139903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/tags?post=139903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}