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Peel Hunt downgrades N Brown profit forecast

Research analysts at Peel Hunt have revised their full-year profit forecast for N Brown down by 12% as it faces continuing pressures over costs and margins.

The forecast for February 2018 was downgraded to £73.5m, due to currency depreciation, sharpened pricing and cost pressures, which Peel Hunt estimates will hit the company hard over the next year.

After sharpening its pricing last year to maintain a value proposition, Peel Hunt estimates that it will be forced to take hits on margins this year, rather than weaken its position competitively. Currency headwinds are also anticipated to impact the retailer, with roughly half of the £15m expected to be mitigated by the company.

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