Friday, August 12, 2022

N Brown Group LFLs up 9%

Internet and catalogue home shopping retail business N Brown Group has today reported an 8.5 per cent rise in total sales following a £2 million investment in new customer recruitment.

Like-for-like sales grew 7.9 per cent in the 19 weeks to January 12th 2013 while its online sales jumped 17 per cent and now make up almost 54 per cent of total sales.

Sales from new customers, who benefit from introductory discounts, are at a lower margin, the group explained though are expected to “drive the business forward in the next financial year.”

Brands Simply Be and Jacamo, which were launched by the group in 2011 have seen “promising signs” and the group promised a detailed review of the stores is set for March this year.

Expanding its reach overseas is a key strategy for the group in the coming year and it highlighted strong growth in the US, while enhancing its stores channel is also a priority.

Full-year results are expected to be in line with expectations thanks to extra investment and the group said that its financial position remains strong.

N Brown Group CEO Alan White said of the figures:“It has been pleasing to see our investments in improved online systems, more customer recruitment and revamped product ranges and pricing continuing to drive a strong sales momentum, despite the lacklustre retail environment.”


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