Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We use cookies to personalise your experience; learn more in our Privacy and Cookie Policy. You can opt out of some cookies by adjusting your browser settings; see the cookie policy for details. By using this site, you agree to our use of cookies.

Digitally focused N Brown back in the black

N Brown Group has returned to profitability in the first half of 2019, despite a drop in revenue.

For the 26 weeks to 31 August, the group, which owns brands Simply Be, Jacamo, JD Williams and Ambrose Wilson, increased statutory operating profit to £14.7m – up from a £28.3m loss in the first half of 2018/19.

Its statutory profit before tax also rocketed 169.4% to £18.8m in the period from a £27.1m loss last year.

However, group revenue fell 5.4% to £432.9m, while overall net debt rose by 14.5% to £481.6m.

The group said it invested in both its men’s and women’s wear brands during the period, relaunched its social media strategy, and closed its international division and US marketing operation, thereby “removing an unprofitable part of [its] business”.

It said it will continue to focus on the UK, and plans to improve its customer experience, product offering, operation and working environment.

N Brown CEO Steve Johnson credited the company’s new strategy (implemented in May) for growing digital growth revenue across all brands, claiming 84% of total product revenue is now digital.

He added: “We announced our new strategy in May to return N Brown to sustainable profit growth and we have made good progress over the first half of the year.

“In particular, we have delivered on our strategy of growing digital revenue across Simply Be, JD Williams, Jacamo and Ambrose Wilson. This has been achieved by taking a more targeted approach to marketing and customer recruitment.

“The retail environment remains heavily promotional, but we are concentrating on continuing to improve our customer proposition and ensuring we operate as efficiently as possible, which has led to an increase of 4% in adjusted EBITDA for the period (to £54.1m).

“We remain focused on implementing our plans and the board’s full-year expectations are unchanged.”

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.