N Brown revenue up 5.1%
On a like-for-like basis revenue growth was 1.6%, adjusting for the sales of Figleaves which the group acquired in June 2010. This was slightly ahead of the rate reported with the group's annual results on 10 May. However, there was a 0.2% decline in the rate of gross margin as the retailer said it was having to be more aggressive with targeted promotional discounts to help drive revenue.
The group said its brand portfolio of Jacamo, Marisota, and Simply Be continue to perform strongly and that good progress was being made with its development projects. Figleaves and High & Mighty were both delivering improved financial results and international sales for Simply Be in Germany and the USA were rising in line with expectations.
The group also announced that it had secured two retail sites in the North West to trial its multi-channel home shopping retail concept which it expected to open by early October.
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