Why ripped jeans were a disaster for New Look: Retailer failed to stock up on this winter's fashion must-haves

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New Look paid the price for not having enough different colours and styles

A failure to stock up on this winter's fashion must-haves, such as ripped jeans and knitwear, led to a profit slump at New Look.

The chain, which is normally renowned for its ability to keep up with fast fashion, paid the price for not having enough different colours and styles of the season's essentials. 

The firm reported a 37.6 per cent dive in profit in the 13 weeks to Christmas Eve, falling from £48.2million last year to £30.1million.

A failure to keep up with fashion drove down sales in the UK by 4.7 per cent, while acrossthe group they fell 4.6 per cent to £1.1billion.

The retailer hopes to reverse its fortunes by handing responsibility for womenswear back to Roger Wightman, chief creative officer, who joined New Look over 25 years ago. 

The 52-yearold has been tasked with ensuring the store makes the most of future trends.

Anders Kristiansen, New Look's chief executive, said: 'Globally, fast fashion is getting faster.

'The consumer mind- set i s shifting, driven by social media, to a 'buy now, wear now' mentality.'