N Brown posts drop in third quarter sales
N Brown, the owner of Simply Be, JD Williams and Jacamo, has seen its third quarter sales slip by 7.6% to £249.2 million.
In the 18 weeks to 31 December, sales at heritage brands Ambrose Wilson, Home Essentials, Fashion World, Marisota, Oxendales and Premier Man dropped by 17.6%
Meanwhile strategic brands Simply Be, JD Williams and Jacamo saw a 5.5% decline.
The company said the cost-of-living crisis impacted trade in the period due to customers being more intentional in their spend and being more focused on either the value or premium end of its ranges.
Steve Johnson, N Brown chief executive, said: “We have traded in line with our expectations through a challenging period, as customers continue to be more cautious with their discretionary spending in the face of the various, well-documented consumer pressures.
“Although we are cautious about the macro environment over the next 12 months, we remain confident in the resilience of our business and in the strategic investments which we are making for the long term.”
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