N Brown Group on track with transformation plans
N Brown Group, the owner of Simply Be, JD Williams and Jacamo, has reported a 9.3% decline in group revenue to £226 million in its third quarter as it continues to invest in its transformation priorities.
In the 18 weeks to 6 January, the group’s product revenue continued to improve with a year-on-year drop of 9.7% compared to a fall of 10.4% in the second quarter and 11.9% in the first.
N Brown said its performance was boosted by stronger trading in categories such as third-party branded womenswear and lingerie, beauty, gaming consoles and its premium own-brand, Anthology.
The group said customers are benefitting from faster site speeds on its new Jacamo website where the sales conversion rate has increased by around 20% despite lower promotional activity. It is also planning to roll out a new JD Williams website to improve the customer experience.
Steve Johnson, N Brown Group chief executive, said: “Building on what’s been achieved in the last 12 months, we continue to make progress on our strategic transformation, with the launch of the new Jacamo website another recent milestone. 2024 will be about further improving the customer experience and positioning the business for future growth, with scheduled launches of the new JD Williams website as well as our Product Information Management system, which will ensure our customers have better product descriptions to inform their purchases.”
The group’s expectations for full year adjusted EBITDA remain unchanged. Slightly softer revenues expected will be offset by further margin discipline.
Johnson added: “I’d like to thank all our colleagues for their commitment during peak trading, and their continued hard work in progressing our transformation of the business. Change on this scale takes time and energy, but we are confident in our strategy and in building a stronger N Brown for all stakeholders.”