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PRIVACY
Retail & Consumer

Retailer N Brown's profits slump in year of 'restructuring'

The owner of JD Williams, Simply Be, Ambrose Wilson and Jacamo reported a decline in revenue and pre-tax profit

N Brown online collection

The boss of retailer N Brown said the company remained focus on its digital strategy as revenues and profits slumped.

The owner of JD Williams, Simply Be, Ambrose Wilson and Jacamo reported a decline in revenue and pre-tax profit following a year of “restructuring” in which it streamlined its brand portfolio and grew its digital revenues.

In the 12 months to 29 February 2020, the Manchester retailer said adjusted profit before tax fell 28.8 per cent to £59.5m, down from £83.6m a year ago.

Group revenue dropped 6.1 per cent to £858.2m, down from £914.4m.

N Brown said 85 per cent of its product revenue was now generated through its digital channels, up 6 per cent from the year before.

Across its brands, 98 per cent of Simply Be revenues were digital, 97 per cent of Jacamo’s, 81 per cent at JD Williams and 60 per cent at Ambrose Wilson.

The group said there was a strong demand for its ‘Home Essentials’ brand which launched in April as customers took the opportunity to spruce up their homes.

Steve Johnson, CEO, N Brown Group

Steve Johnson, chief executive, said: “The crisis will cast a lasting shadow over the sector, but we are confident that our agile approach and attractive brand offerings, with clear target customer segments, position us well to navigate the issues and emerge as a stronger business.”