Fashion Garments

The company appointed JPMorgan Cazenove, Deutsche Bank and Credit Suisse in December as advisers on a possible float, but Carl McPhail, chief executive, said no decision had been made.

“We’ve always said we’ll continue to consider our options,” said Mr McPhail. “The board haven’t made any decision and they’ll make the decision when it’s the right time. The priority for us is to continue doing what we have done.”

The retailer joined a growing list of Christmas high-street winners as it announced that UK like-for-like sales rose 5.9 per cent in the 14 weeks to January 2, while total group sales were up 14.4 per cent, boosted by the opening of new stores in the UK and Europe.

New Look’s share of the UK women’s wear market rose to 5.6 per cent, up by 1.2 per cent compared with 2007, according to figures from TNS Worldpanel, supplied by New Look, meaning it is now Britain’s second-largest retailer in value terms for total women’s wear, including clothing, accessories and footwear, behind Marks and Spencer .

Analysts said New Look’s success reflected the blossoming market for value fashion at the expense of more established mid-market operators. The company opened its 1,000th store, in Bath, this year, and has more than 600 outlets in the UK and a store presence in 13 countries including Singapore, Russia and France.

Mr McPhail said he planned to continue to expand internationally, while also doubling the size of many stores in the UK.

Alastair Miller, chief financial officer, expects earnings before interest, tax, depreciation and amortisation for the year to the end of March to exceed the £218m ($347m) reported last year. The retailer has about £1bn of debt.

New Look was taken private in 2004 by private equity groups Permira and Apax Partners, with founder Tom Singh, for £800m.