Home / Knowledge / News / Apparel/Garments / Retailer N Brown Group FY'14 revenue up 6.4%
Retailer N Brown Group FY'14 revenue up 6.4%
02
May '14
N Brown Group plc, the multi-channel retailer and no.1 UK online retailer for plus size fashion, announces its full year results for the 52 weeks ended 1 March 2014.  
 
Highlights 
 -Total Group revenue £834.9m +6.4% 
-Operating profit £107.0m +4.7% 
-Profit before tax and fair value adjustments £100.1m +5.3% 
-Sales from USA operations £10m +21% 
-E-commerce sales £463m +9.1% 
-Active customer file increased to 7 million +3.7% 
-Total dividend 14.23p +4.0% 
-Adjusted earnings per share 27.88p -1.0% 
-Like-for-like sales from store portfolio +35% 
-Positive growth across all customer segments and product categories 
-Opening Simply Be/Jacamo flagship store on Oxford Street, London in September 
-Strategy delivering confident outlook for 2014/15 
 
Financial Results
Total group revenue increased by 6.4% to £834.9m and 6.3% on a like-for-like basis, excluding the non-comparable periods for newly opened stores. Gross margin reduced by 0.3% for the year as a whole despite a second half improvement in overall margin which came from the reduced bad debt ratio of 7.5% of sales. This was achieved largely following the introduction of new fraud elimination processes and credit policy rule changes on high value electrical products, introduced in the third quarter. 
 
Operating profit was up by 4.7% to £107.0m, after accounting for losses of £6.2m (2013, £6.1m) from the investment in international trading and the Simply Be/Jacamo stores.  
 
Andrew Higginson, N Brown Group Chairman, said: “We are pleased to report another robust year for the Group as we delivered positive growth across all customer segments and product categories.
 
"We have achieved a lot in the year, whilst at the same time we have entered a period of transition for the business. We are investing in the further development of our multi-channel offer, increasing customer recruitment, revitalising our major brands and driving international expansion for future growth. We are encouraged by the positive signs from these strategic initiatives and we are confident these trends will continue.” 
 
Angela Spindler, Chief Executive, added: “I am encouraged by the results of the early changes we've made to the business and I am delighted that the team has continued to deliver solid growth, whilst preparing for a more ambitious future. The Group has maintained momentum across our multichannel offering in terms of both stores and online, growing the customer base and continuing our progress in the USA. We are particularly encouraged by the strong performances from our younger titles, primarily driven by Simply Be and Jacamo, and have continued to focus on revitalising our core brand of JD Williams which remains key to achieving our future growth ambitions. 
 
“Going forward the benefits of our strategic initiatives will start to come through as we look to achieve a double digit rate of sales growth during the financial year ending February 2016. I am even more convinced that we have a great platform and you'll see us build on that strong base at an even faster pace as the implementation of our plan gathers momentum.”
 

N Brown Group plc

Must ReadView All

Courtesy: Delta Apparel

Apparel/Garments | On 31st Aug 2016

Delta Apparel acquires clothing brand Coast

Delta Apparel said it has bought a majority of assets in clothing...

Textiles | On 31st Aug 2016

Trützschler showing new technologies at ITMA ASIA

German textile machinery producer Trützschler will be showing new and ...

Courtesy: Textile Asia

Textiles | On 31st Aug 2016

$350mn worth of deals struck at Textile Asia fair in

The 16th International Textile Asia Exhibition in Pakistan ended with ...

Interviews View All

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

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

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

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
August 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search