Kristiansen has already warned the market to brace for another two quarters of falling sales while New Look tries to fix its product problems.
Earlier this year New Look admitted that it had not heavily invested in some fashion trends enough, such as distressed denim, while it has fallen into a pattern of repeating items of clothing, such as vests, in various colours. While a range of safe, reliable basics might be the saving grace for Marks & Spencer’s rehabilitation, this move lacks any appeal for twenty-something shoppers. Because it has bored its shoppers with bland choices, New Look has been punished by its customers for failing to excite them.
New Look’s own figures reveal that shoppers still visit its stores and website, but those trips fail to be converted into purchases because the products are not inspiring them to part with their hard-earned cash.
“Everything comes back to product”, says independent retail analyst Richard Hyman. “You can talk all day about IT systems and productivity, but if you don’t get the product right then forget it,” he added.