Fashion e-tailer N Brown has delivered full-year results for the period to the end of February and it's no surprise that they were weaker than the previous financial year. But the company seemed upbeat for the future.
N Brown may have moved to an online focus in recent years, but unlike some other pureplay retailers, it didn’t have such a good autumn and festive season. Yet despite sales falls, there are signs it’s on the right track
N Brown’s half-year showed a “continued recovery and clear opportunity to accelerate [its] profitable growth strategy”, the company said on Thursday. It added that it’s launching a £100m equity fundraising.
The JD Williams, Simply Be and Jacamo owner said its challenges have continued in 2020 and on Wednesday, the company updated the market on its six months to the end of August, saying product sales fell more than 20%.
UK retailers are urging strong government action as they deal with the Leicester garment factory scandal. The main company in the spotlight, Boohoo Group, and others are calling for a factory licensing system.
Simply Be, JD Williams and Jacamo owner N Brown’s update told us that its trading levels have partly recovered from those seen in early March. But it continues to be affected by the coronavirus pandemic.