// N Brown sales nosedived during the 13-week period to 3 June
// Poor spring weather and low consumer confidence were both blamed for the company’s poor performance
Online group N Brown sales have plummeted almost 10% in a first quarter that was hit by “poor early spring weather and low consumer confidence”.
Product sales sunk 11.9% during the 13-week period to 3 June as the group’s financial services revenue also dipped 6.3%.
Bad weather over the spring and low consumer confidence were blamed for poor performance the group, which owns brands including JD Williams, Jacamo and Simply Be.
The retailer, which posted a full-year pre-tax loss of £71.1m in its last financial year, said that the “softer revenue trend has continued” into its first quarter.
N Brown Group chief executive Steve Johnson said it expects “weak consumer confidence” to continue in its current financial year.
He said the retailer was taking a “disciplined approach to managing costs and driving margin improvements whilst we invest in the business for medium-term growth”.
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Despite the sales plunge, the retailer’s expectations for the full year are unchanged.
“We remain confident in the strategy, and expect to continue to deliver progress across each of our strategic pillars this year,” Johnson added.
The news comes as N Brown continues investment in new mobile-first website for Jacamo, after the successful launch of its Simply Be website.
Johnson said: “We have started the year with an elevated focus on the transformational priorities which will deliver the biggest benefits, including new mobile-first websites for Jacamo and JD Williams, and the delivery of our new financial services platform.
“We are pleased with the progress we are making including moving towards the full roll-out to customers of the new Jacamo website.”
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