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Trading statements

N Brown sees continued momentum

20 June 2017 07:17

N Brown Group, -the online, specialist fit, fashion retailer - saw continued momentum across the business in the 13 weeks to 3 June.

Group revenue rose by 5.6% with product revenue up 10.2%, driven by strong Ladieswear performance.

The group said financial services revenue fell by 4.9%, as expected.

Other highlights: - Online revenue +16%, with 71% of revenue now generated online, up 4ppts year-on-year - Total active customers (12 month rolling basis) up 4%, with Power Brand active customers up 5% - Up to five loss-making Simply Be and Jacamo dual-fascia store closures announced - Full year guidance unchanged aside from exceptional costs relating to these store closures

Chief executive Angela Spindler said: "We are pleased to report a good Q1 performance, with continued momentum across all of our brands and categories. Ladieswear and Simply Be in particular had a very strong period, with good responses to our Spring/Summer campaigns, leading to further market share gains.

"As a result of ongoing weak footfall in some locations, and with a clear focus on driving financial returns across all areas of our business, we will be closing up to five loss-making stores.

"Although the outlook for consumer confidence remains uncertain, our offering is resonating with customers. At this early stage in the financial year, trading is on track to meet our expectations. We continue to invest in our customer proposition and remain very confident in our future growth prospects."

Story provided by StockMarketWire.com

Related Company: BWNG

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