Weaker consumer confidence impacts N Brown H1 results


Weaker consumer confidence impacts N Brown H1 results

N Brown Group has announced its first-half results which show a fall in both revenues and profits. Revenues across its brands for the 26 weeks to August 27th 2022 came in at £331.5m, down by 4.6 per cent on the year prior, with strategic brands 2.2 per cent lower and heritage brands  11.8 per cent lower. Pre-tax profits fell by 74.6 per cent to £7.2m.

Steve Johnson CEO, N Brown Group said: “In a difficult period of weakening consumer confidence, we’ve balanced our objectives between disciplined trading – with a focus on upholding margin – and delivering on our long-term strategy to transform the business.

“Our teams have worked relentlessly to launch Simply Be’s new website, and early indicators give us confidence in the wider benefits for all our customers when we roll this out more widely across our other strategic brands.

“We anticipate continued softness in trading over the second half as macroeconomic pressures continue to weigh on consumers, despite government support. We will, therefore, maintain our focus on tightly managing both our costs and margins. At the same time, given our ongoing confidence in our strategy and the strength of our balance sheet, we will continue to invest in our digital platforms to deliver sustainable profitable growth.”

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