N Brown suffers festive sales slide and warns of stock delays
N Brown has suffered a drop in revenues during its Christmas quarter despite hailing “continued improvement” in sales.
The fashion group posted an 8.8% decline in group revenue during the 18 weeks to January 2. Product sales were down 8.9% – compared with a 28.8% slump in its first quarter – while revenues raked in through its financial services division fell at the slower rate of 8.3%.
Sales at N Brown’s five biggest brands – JD Williams, Simply Be, Ambrose Wilson, Jacamo and Home Essentials – slipped 1.4% during the period. They had tumbled 25.1% during the first quarter of its fiscal year.
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