// N Brown revenue reaches £168.7m in the 13 weeks to May 29
// Growth was driven by Jacamo, Simply Be, JD Williams, Ambrose Wilson and Home Essentials
// Clothing and footwear sales continued to recover and demand increased by 21%
N Brown has recorded a strong start to the year and said it is currently running a number of “exciting initiatives”.
For the 13 weeks to May 29, the company reported a 0.5 per cent revenue increase to £168.7 million, with product income rising 4.6 per cent to £106.9 million.
Growth was driven by Jacamo, Simply Be, JD Williams, Ambrose Wilson and Home Essentials, which were up 15.5 per cent and now represent 81 per cent of product revenue.
Clothing and footwear sales continued to recover and demand increased by 21 per cent compared to the prior period with own brand womenswear up 27 per cent and menswear own brand up 25 per cent.
N Brown finished the period with a net cash of £84.9 million, leaving it well positioned to continue its investment in strategic initiatives to drive profitable growth.
Adjusted net debt was £287.7 million, incorporating £84.9 million of cash and £372.6 million of debt drawn against the securitisation funding facility which is backed by the eligible customer receivables.
The £502.3 million net customer loan book significantly exceeds this adjusted net debt figure. The group has no unsecured debt.
“The strategic transformation initiatives we have enacted over the past two years have now started to deliver product revenue growth, with customers responding well to the new ranges across our core brands,” Chief executive Steve Johnson said.
“We have a number of exciting initiatives in the pipeline and today we have announced a new partnership with Amanda Holden and Davina McCall to be the new faces of JD Williams, leading some innovative new campaigns which will serve as a rich source of inspiration for our customers.
“While the external environment remains challenging, we have made a good start to the financial year and trading remains in-line with our expectations.”