Fitch might cut New Look Retail

Fitch Ratings said it placed New Look Retail Group Ltd.'s B- long-term issuer default rating on Rating Watch Negative (RWN).

Fitch said the RWN reflects New Look's deteriorating operating performance, our expectation of falling consumer confidence in the U.K., rising input prices following the fall in sterling, economic uncertainty following the recent general election, exacerbated by heavy competition from pure online players.

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