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N Brown Q1 revenues drop 3.8 percent

By Prachi Singh

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For the 13 weeks to June 1, 2019, N Brown Group Plc said digital revenues rose 3 percent, while product revenue declined 5.4 percent. The company’s total revenue were down 3.8 percent. The company said, 83 percent of total revenue is now digital, an increase of 9 ppts and 84 percent of digital traffic is now driven by mobile devices, an increase of 6 ppts.

Commenting on the trading update, Steve Johnson, N Brown’s CEO, said in a statement: "We're pleased to report a solid trading performance in the first quarter. The retail market remains challenging, but we have a clear strategy to deliver profitable digital growth and our full year expectations are unchanged."

Within womenswear, the company said, JD Williams delivered 5.9 percent digital growth and 78 percent of revenue is now digital, while Simply Be increased digital revenue by 4.6 percent in the quarter. The company expects Simply Be's growth rate to be lower in the first half of this financial year as the company moves to customer lifetime value modelling. Ambrose Wilson delivered digital revenue growth of 10.1 percent in the quarter and 56 percent of its revenue is now digital, an increase of 13ppts year-on-year. Menswear digital revenue increased 8.8 percent in the quarter driven by a good performance from Jacamo.

Product brands revenue declined 12.7 percent in the quarter in line with the company’s strategy of scaling back unprofitable offline marketing and recruitment. The company further said that strong digital performance from Oxendales and Figleaves was more than offset by the continued managed decline in House of Bath, High & Mighty and Premier Man.

Revenue from financial services increased 8 percent year on year, driven by the continued growth in the loan book.

Picture:Facebook/JD Williams

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JD Williams
N Brown
Simply Be