New Look, the fast fashion retailer with a reputation for low prices, reported “strong” Christmas trading on Tuesday, with like-for-like sales in the UK up 2.8 per cent and its gross margin 170 basis points higher.

The chain, owned by private equity groups Permira and Apax Partners, said total group sales in the 14 weeks to January 3 rose 14.5 per cent, as it opened shops in the UK and Europe.