N Brown’s like-for-like sales up 7.8%
N Brown, the online, catalogue and stores retailer, will tell its shareholders later today that its trading has improved even further since it reported its full year results on 1 May.
In a statement issued this morning in advance of today’s annual general meeting, chairman Andrew Higginson reported that total group revenue increased by 8% in the 17 weeks to 29 June with like-for-like sales rising by 7.8%.
Higginson said that all the group’s major brands, product groups and channels had contributed to the revenue growth, including online, stores and international.
In addition, ladieswear revenue had recovered following an improvement in the weather, and there was continuing strong growth from menswear and footwear although home and gifts was the fastest growing product category.
Never Miss a Retail Update!Higginson explained that the group’s customer recruitment strategy had gone to plan with spend level maintained at last year’s increased rate. N Brown is currently reducing the number of brochures mailed to customers and investing more in the online channel, which now accounts for 56% of total home shopping revenue.
He added that the dual fascia Simply Be/Jacamo stores in the UK were making good progress and that the group is currently considering whether to open more stores in time for Christmas 2013. The group has also launched Marisota and Jacamo websites in the US to complement its Simply Be and Figleaves brands.
N Brown’s new chief executive Angela Spindler joined the business on 1 July, taking over from Alan White who will retire from the group on 31 October.
Higginson said: “We have made a good start to the year and we will endeavour to keep up the momentum whilst recognising that our customers continue to face pressure on their disposable income. The board remains confident of a positive outcome for the year.”
