LOOKING AHEAD: The British high street retailer New Look has exited Russia and Ukraine, citing “political uncertainty,” although it has not ruled out returning to the region in a few years’ time. New Look had a franchise agreement with a company called Delta that operated 20 stores in Russia and 6 in Ukraine. That deal has now been terminated, the company confirmed on Tuesday. Earlier this year, New Look’s chief executive Anders Kristiansen had said he was evaluating the situation in the region with regard to New Look’s continued presence there.
The group, which on Tuesday reported a 4.7 percent rise in first-half revenue to 788.6 million pounds, or $1.25 billion, is expanding further into other international markets. The company said it’s on track to have 20 stores trading in China by the end of the year — there are 14 already open — and an online presence in the country via T-Mall. A retail rollout planned for Poland and Germany is on-schedule, New Look said.