N Brown profits rise as core brands clock up growth

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N Brown has posted a jump in profits during its first half as increased investments in its key clothing brands bore fruit.

The fashion retailer’s bottom line doubled year on year as statutory pre-tax profit swelled to £28.2m in the 26 weeks to August 28, 2021, compared to £14.1m the year before. Adjusted EBITDA rose 10.4% to £53m during the same period.

Group revenue slipped 0.1% to £364.8m but product sales rose 3.3% to £222.1m. Revenues from its financial services proposition dropped 5.7% to £124.7m.

N Brown said sales of its five core brands -–JD Williams, Simply Be, Jacamo, Ambrose Wilson and Home Essentials – climbed 14.9%. It comes after the group completed a £100m fundraising last December to accelerate its “strategic investments” in the brands and product offer, as well as improvements to its websites.

The company has also created several partnerships to promote key brands, such as TV presenters Amanda Holden and Davina McCall being signed up as brand ambassadors for JD Williams. Singer Frankie Bridge and interior designer Nicki Bamford-Bowes are ambassadors for the group’s Home Essentials brand.

N Brown chief executive Steve Johnson said there was “momentum” across the business despite operating in a “volatile” trading environment.

He said shoppers were “responding well to our improved product ranges, particularly across our five strategic brands”.

Johnson added: “We continue to deliver on our plan and are feeling well prepared for peak trading. EBITDA remains in line with our expectations and we are looking forward to exciting our customers with our new ranges as we head towards the Christmas peak. However, we do so with the backdrop of continued uncertainty around consumer confidence.”