// N Brown said product revenue losses stabilised to 20.5% during first half of the year
// Group revenues recovered to be down 17.6%, from a 22% drop in the first quarter of the year
N Brown has reported a recovery in first quarter sales thanks to a rise in demand for its new homeware range.
The group, which owns Jacamo, JD Williams and Simply Be, said that product revenue losses had stabilised to 20.5 per cent during the first half of the year.
For the six months to August 29, N Brown said 92 per cent of all sales across its stable of brands came through ecommerce.
READ MORE: N Brown full year profits fall 29%
Meanwhile, group revenues recovered to be down 17.6 per cent, from a 22 per cent drop in the first quarter of the year.
The fashion group said that in the second quarter of the year “revenue trajectory has continued to improve” from the “significant decline” at the beginning of the Covid-19 lockdown.
The recovery was driven by apparel sales, which N Brown said “continued to recover from mid-March levels”.
Moreover, the demand for home & gift, supported by the launch of its new Home Essentials brand on April 1, “continued to be well above the prior year”.
N Brown said that it was trading in line with expectations.
“It is encouraging to see a continued improving trend in trading following the sharp decline witnessed upon the initial impact of Covid-19, with trading in-line with expectations,” N Brown group chief executive Steve Johnson said.
“Home & Gift sales in the first half of our financial year have been particularly strong and our fashion brands continue to recover, particularly JD Williams and Jacamo.
“We have accelerated our digital transformation and 92 per cent of our product revenue is now digital.
“Our financial services cash collection rates have remained stable and we continue to offer support and flexibility to those credit customers who require it.
“We will continue to implement our refreshed strategy, and particularly mindful of an uncertain UK retail environment, we will continue to focus on cost control, deleveraging and cash generation.”
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