N Brown product sales fell 9.3% over the golden quarter, however, the online retailer’s profit expectations for the year remain on track.
Despite the decline, the retailer flagged that it is seeing an improving sales trend from the 11.9% plunge in its first quarter.
It put this down to an improvement in its clothing and footwear and home businesses during the period.
The online group added that shoppers were benefitting from faster website speeds, with its sales conversion rate up by around 20% despite lower promotional activity.
N Brown’s strategic brands – JD Williams, Simply Be and Jacamo – sales were down 7.9% while its heritage brands – Ambrose Wilson, Home Essentials, Fashion World, Marisota, and Oxendale – dropped 14.7%.
Meanwhile, financial services sales were down 8.5% and group revenues slipped 9.3%.
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The business maintained its full-year profit guidance, with slightly softer sales expected to be offset by further margin discipline.
N Brown CEO Steve Johnson said: “2024 will be about further improving the customer experience and positioning the business for future growth, with scheduled launches of the new JD Williams website as well as our product information management system, which will ensure our customers have better product descriptions to inform their purchases.
“Our strong liquidity position provides a solid base for continued investment in our strategic priorities.”
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