Home / Knowledge / News / Apparel/Garments / N Brown sees increased YOY sales in 18-weeks
N Brown sees increased YOY sales in 18-weeks
06
Jul '11
At the Annual General Meeting being held July 5 at 12.30 pm Lord Alliance of Manchester CBE, Chairman of N Brown Group plc, make the following statement on current trading.

In the 18 weeks ended 2 July 2011 total group revenue increased by 5.1%. On a like-for-like basis revenue growth was up 1.6%, adjusting for the sales of Figleaves which we acquired in June 2010, slightly ahead of the rate reported with our annual results on 10 May, despite the ongoing decline in consumers' disposable income. As we anticipated, and in line with the sector, we are having to be more aggressive with targeted promotional discounts to help drive revenue and this has led to a 0.2% decline in the rate of gross margin.

The pattern of demand is consistent with last year as menswear and footwear are growing strongly and ladieswear is slightly down. Within ladieswear we continue to do well with our unique products at the higher price points relative to the core ranges where the inflationary price increases are subduing demand. In our brand portfolio Jacamo, Marisota, and Simply Be continue to perform strongly.

Progress is going well on all of our development projects. Figleaves and High & Mighty are both delivering improved financial results. International sales for Simply Be in Germany and the USA are rising in line with expectations and we have secured two retail sites in North West England to trial the multi-channel home shopping retail concept, utilising the latest technology, which we expect to open by early October 2011.

Our core strategy is to target niche customers and products, increasingly through online marketing activities. Online sales now account for 47% of the total, up from 41% last year. The provision of credit facilities to our customers is undoubtedly a benefit in these tough economic conditions, and default rates are in line with our expectations. This combination, together with our development program, the flexibility of our business model, and the continuing strong financial position of the group gives the board confidence in the future outlook for the group.

N Brown Group plc

Must ReadView All

Textiles | On 7th Dec 2016

New Texprocil chairman bats for increased UPI adoption

Ujwal Lahoti, the new Cotton Textile Export Promotion Council...

RBI Governor Urjit Patel addressing a press conference. Courtesy: Youtube

Textiles | On 7th Dec 2016

Defying expectations, RBI keeps repo rate unchanged

Defying market expectations, the Monetary Policy Committee (MPC) of...

The new OJ 59/1 B. Courtesy: Karl Mayer

Textiles | On 7th Dec 2016

Karl Mayer unveils new LACE.EXPRESS model for apparel

Germany’s leading textile machinery firm, Karl Mayer, has launched a...

Interviews View All

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search