N Brown revenues down in first quarter
N Brown, the owner of the Simply Be and Jacamo clothing brands, has reported a fall in revenue in the first quarter of its financial year but said the decline was in line with expectations and therefore its guidance remains unchanged.
In the 13 weeks to 28 May, group revenue edged down 0.2% while product revenue fell by 1.6%.
Angela Spindler, N Brown chief executive, said: “Overall trading in the quarter has been in line with our expectations and our guidance for the full year remains unchanged. Product sales have been satisfactory when viewed against the challenging market backdrop.”
Revenue at N Brown’s main brands Simply Be and Jacamo were both up year-on-year, driven by ongoing product improvements and new season campaigns. The JD Williams brand itself saw double-digit growth, although revenues for JD Williams as a whole were slightly down due to a weak performance from the Fifty Plus title.
Product revenues at the company’s secondary brands, Fashion World, Figleaves, High and Mighty and Marisota, were marginally lower year-on-year. Within this, Fashion World was the strongest performer.
Brands within its “traditional” segment, which include Julipa, Ambrose Wilson, Premier Man and House of Bath, all saw a mid single-digit decline in product revenues. N Brown said improvements made to its offer and customer proposition in the segment would take until the second half to impact performance.
Spindler said: “Our three Power Brands, JD Williams, Simply Be and Jacamo, continue to outperform the wider group. Revenue from our traditional segment has continued to decline, but remedial actions are now well underway.
“Our systems transformation programme, Fit 4 the Future, remains on track in all respects. Looking forward, our new systems will give us a strong platform to capitalise on the significant growth opportunities ahead.”
