The warm autumn weather combined with a fall in revenues and profits in the first half has led N Brown to adjust its profit guidance for the year to between £88m and £92m.
Total group revenue was down 0.6% to £407.3m in the 26 weeks to August 30, due to ongoing efforts to modernise and move away from the traditional mail order business model, as well as a poor sales performance from plus-size womenswear brand JD Williams.
The group’s operating tax fell 6.6% to £45.2m, while pre-tax profits dipped 3.2% to £42.7m.
N Brown warned that its performance had been further impacted since then by the unseasonably mild autumn temperatures in September.
Chairman Andrew Higginson said: “In a period of substantial change in our business, lower first half profits are largely attributable to the planned later phasing of our product season and marketing activities as well as the changes we have made to our credit policies.
“The benefits of re-phasing will not flow through as expected during the second half as a result of the very difficult market conditions across the clothing sector in recent weeks.
“In re-setting expectations for the full year, the board believes it is taking full account of these pressures on performance and also giving the management team the time and space it needs to push on with the necessary programme of modernisation which is equipping the business to access faster growth in the future.”
Chief executive Angela Spindler added: “Despite the negative effects of recent market conditions on performance, I am confident that we are taking the right actions and are making good progress.”