N Brown has reported a disappointing sales drop of 9.3 per cent across the golden quarter but says its profit expectations remain on track to meet the forecast.
JD Williams, Simply Be, and Jacamo, its ‘strategic’ brands, saw revenues fall by 7.9 per cent across the period, with sales from its ‘heritage’ brands Ambrose Wilson, Home Essentials, Fashion World, Marisota and Oxendale plummeting by 14.7 per cent. Financial services sales also took a hit of 8.5 per cent.
N Brown CEO Steve Johnson said: “2024 will be about further improving the customer experience and positioning the business for future growth, with scheduled launches of the new JD Williams website as well as our new product information management system, which will ensure our customers have better product descriptions to inform their purchases.
“Our strong liquidity position provides a solid base for continued investment in our strategic priorities.”
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