N Brown boosted by strong performance at core brands
N Brown has posted a 5.5% increase in third quarter revenue within its five core brands which offset a managed decline in its legacy brands.
In the 18 weeks to 1 January, the company put in a strong performance in the clothing and footwear category through the peak Christmas trading period, although home and gift sales were lower year-on-year against tough lockdown comparatives.
The figures meant that group revenue edged down 3.3% year-on-year to £267.6 million in the period.
The company, whose core brands include Jacamo, JD Williams, Simply Be, Home Essentials and Ambrose Wilson, said it entered the peak trading period well prepared, with good product availability, and was successful in the management of ongoing global supply chain challenges.
Steve Johnson, N Brown chief executive, said: “Against the backdrop of Covid uncertainty, a volatile consumer environment and well-documented supply chain issues, the continued growth of our strategic brands has been particularly pleasing, as has a return to growth in active customers. We are now seeing more people than ever shopping with Simply Be and Jacamo. JD Williams is also resonating well with customers, particularly on the back of our successful partnerships with Amanda Holden and Davina McCall.”
Looking ahead, the company said it expects to post a full year adjusted EBITDA of between £93 million and £96 million, which is at the lower end of its previously guided range. N Brown said this was a reflection of online market conditions and higher project spend.
Johnson added: “We have continued to execute on our plan and, looking ahead, will continue our strategic investment to transform the business, supported by a robust balance sheet and a strengthened executive team.”
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