First quarter sales up 2.5% at N Brown
RETAIL group N Brown saw first quarter like-for-like sales increase by 2.5%.
The Manchester-based business traditionally sold from catalogues but has since moved into online and has a growing portfolio of stores under brands such as Jacamo, Simply Be and High and Mighty.
It has nine at present and a further seven will open before Christmas.
In an interim management statement the company said like-for-like sales from its shops were up 20% which chief executive Angela Spindler told TheBusinessDesk.com was down to a focus on “high footfall, prime locations”.
“It’s a reinforcement of the rigour that’s gone into our location strategy. Most people are trying to divest stores and we’re busy investing having learned from the experience of other retailers.
“The pace of our store openings is slower than it could be if we had a less stringent policy on locations.”
Its Simply Be and Jacamo brands reported sales rises of 6% and 10% respectively, and there was strong demand in the US where revenues rose by 15%.
Ms Spindler said the first quarter figures had been affected by a decision to change the timing of the marketing programme which had led to a slower start, but a stronger finish. The group has also decided to stop selling large electrical items which it said attracted higher levels of bad debt. This will have a full year sales impact of £13m at the £830m turnover group.
Its home offer, which accounts for nearly a third of sales, is now focusing on a ‘Famous Five’ range of bedding, home décor, homewares, outdoor living and family gifts.
