// N Brown boss Steve Johnson said refocus of group strategy is “now required”
// N Brown reported group revenue of £914.4m compared to £922.2m for the same period last year
// The company’s losses widened to £57.5m, up from £16.2m the previous year
N Brown Group has posted mixed full-year results as chief executive Steve Johnson calls for a refocus of the group’s strategy.
The fashion retailer said its full-year profits had risen, despite a 0.8 per cent decline in group revenue and a massive increase in statutory losses.
For the year to March 2, the company reported group revenue of £914.4 million compared to £922.2 million for the same period in the previous year.
N Brown’s adjusted pre-tax profit increased by 2.5 per cent to £83.6 million, up from £81.6 million for the same period the previous year.
However, on a statutory basis, the retailer’s losses widened to £57.5 million, up from £16.2 million the previous year.
Meanwhile, its JD Williams fascia accounted for £159.5 million, while Simply Be brought in £131.5 million, and Jacamo generated £64 million in sales.
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2 Comments. Leave new
Sorry Retail Gazette, this sound-bite tells us nothing about the underlying strength or weakness of this group unless we understand what is contained within the statutory losses.
Are people getting thinner? How could this company be failing?