N Brown like for likes rise
Home shopping retailer N Brown sees group sales rise 14% on a like for like basis.
The group said that sales from established customers have been ahead of expectations due to higher response rates and an increase in average spend. New customers recruited in the second half increased by 30 per cent. Online sales growth increased to 48 per cent in the period from 40 per cent in the first half and orders taken over the internet now account for 28 per cent of total sales.
“The success of our overall strategy to focus on niche customers and products is evidenced by our continued sales growth, which has been achieved despite the postal strike in October 2007, and the impact of other external retail market conditions. The board is confident that we can meet our profit expectations for the 53 weeks to 1st March 2008 and that we are well placed for the next financial year.” the group said.
