N Brown calls for strategy refocus as losses widen to £57.5m

N Brown
// 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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  1. 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.


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