Loss making Jacamo and Simply Be dual-fascia stores are being closed by N Brown Group. Around 5 stores are set to go by the end of the summer leaving the business with ten outlets. The closures are being blamed on weak footfall as well as future business rates increases. This news comes as the predominantly direct commerce business released its results for the 13 weeks to 3rd June.
Group revenue had increased by 6 per cent with online sales accounting for 71 per cent of the total. Its financial services, consumer credit revenues fell by 5 per cent year on year.
CEO Angela Spindler commented, “As the outlook for consumer confidence remains uncertain, our offering is resonating with customers. At this early stage in the financial year , trading is on track to meet our expectations. We continue to invest in our customer proposition and remain very confident in our future growth prospects.”
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