85 727
Fashion Jobs
HENKEL
Senior Automation Tech
Permanent · GENEVA
ESSILORLUXOTTICA GROUP
Customer Service Representative
Permanent · EAST SYRACUSE
ESSILORLUXOTTICA GROUP
Customer Service Representative Classic Optical)
Permanent · YOUNGSTOWN
ESSILORLUXOTTICA GROUP
sr. Manager, Business Growth
Permanent · NEW YORK
ESSILORLUXOTTICA GROUP
Associate Manager, Trade Event Marketing
Permanent · DALLAS
ESSILORLUXOTTICA GROUP
Oakley - Specialized Consultant
Permanent · PEMBROKE PINES
ESSILORLUXOTTICA GROUP
Oakley - Sales Supervisor
Permanent · CAMARILLO
ESSILORLUXOTTICA GROUP
Naasc - Material Handler II (Inbound Team Lead)
Permanent · MCDONOUGH
ESSILORLUXOTTICA GROUP
Oakley Store Market Manager- Denver Market
Permanent · DENVER
ESSILORLUXOTTICA GROUP
Oakley - Specialized Consultant (Denver)
Permanent · DENVER
ESSILORLUXOTTICA GROUP
Wholesale - Analyst, Supply Chain (Vendor Compliance)
Permanent · PORT WASHINGTON
ESSILORLUXOTTICA GROUP
Essilorluxottica Wholesale - Sales Representative
Permanent · RALEIGH
ESSILORLUXOTTICA GROUP
Wholesale - Coordinator- Sales Operations (Rep Orders)
Permanent · PORT WASHINGTON
AMRG
Sales Supervisor - Full Time
Permanent · ROSEMONT
WALGREENS
Overnight Call Center Representative - Pharmacy (Onsite)
Permanent · CHANDLER
WALGREENS
Onsite Call Center Representative - Pharmacy (Part Time)
Permanent · CHANDLER
WALGREENS
Onsite Call Center Representative - Pharmacy (Full Time)
Permanent · CHANDLER
WALGREENS
Senior Manager, Merchandise Planning
Permanent · DEERFIELD
WALGREENS
Digital Commerce Associate Manager, Merchandising
Permanent · DEERFIELD
WALGREENS
General Warehouse Person Pendergrass Rfc
Permanent · PENDERGRASS
CALERES
Associate Manager - Famous Footwear
Permanent · MANKATO
NORTH CAROLINA STATE
County Extension Director
Permanent · GOLDSBORO
By
Reuters API
Published
Nov 13, 2018
Reading time
2 minutes
Download
Download the article
Print
Text size

N Brown sees higher tax on marketing costs

By
Reuters API
Published
Nov 13, 2018

Plus-sized fashion retailer N Brown said on Tuesday its tax bill would rise in the next two years as a result of a long-running dispute with the British government over tax recovery.




The company's shares slipped 4 percent after it said that tax on marketing costs would rise between 6 million pounds and 9 million pounds annually from its financial year 2020.

N Brown has argued that it should be reimbursed for the £43.8 million it has paid with regards to Value Added Tax on marketing expenditure relating to sale of goods. But tax authorities maintain that the VAT relates to both sale of goods and financial services.

In a draft ruling, a judge agreed with the government's stand, saying that in marketing goods, N Brown was also marketing financial services even if there was no reference to this in its marketing materials.
"The draft ruling has mixed implications for N Brown and we are disappointed by the current outcome," the plus sized fashion retailer said in a statement.

N Brown, which is focussed on three core brands JD Williams, Simply Be and Jacamo, said it was considering its position with respect to an appeal on the decision.

Analysts at Jefferies cut their 2020 pretax estimates by about 11 percent to 75 million pounds ($96.59 million).

"N Brown had flagged several times its long running dispute with the HMRC and on legal advice had fully expected to be reimbursed for the 43.8 million pounds it had paid with regards to VAT on marketing expenditure for the period 2006-2016," the analysts said.

The ruling exacerbates problems at the retailer which cut its margin forecast last month and said it was halving its dividend as it undergoes a shift online.

N Brown closed its last 20 stores in August and is going back to its roots with its move online. The company, which was founded in 1859, used the development of the postal system in Britain to sell goods directly to customers.
 

© Thomson Reuters 2024 All rights reserved.