N Brown reports loss making first half

N Brown’s first-half performance resulted in a disappointing pre-tax loss of £4.1 million as compared with the £7.2 million pre-tax profit it generated for the same period last year. Revenue for the six months to September 2nd, 2023 was down by £31.5m to £297m and had caused the business to make an undisclosed number of redundancies.

CEO Steve Johnson said: “We expected external market conditions to remain soft and for the first half of FY24 to be particularly challenging. In response, we acted decisively to adapt to the trading environment and maintain real focus and discipline in areas which we can directly control, remaining on track to deliver full-year adjusted EBITDA in line with the board’s expectations.”