Home / Knowledge / News / Fashion / Ladieswear segment sales up at N Brown Group
Ladieswear segment sales up at N Brown Group
08
Oct '08
N Brown Group plc, the internet and catalogue home shopping company, announces its interim results for the 26 weeks to 30th August 2008.

Alan White, Chief Executive, said:
“We are pleased with our performance over the last six months, particularly against the backdrop of the decline in consumer confidence. Our strategy to always look at means of improving our product ranges, websites and catalogues has enabled us to deliver strong growth across our portfolio of brands. We will continue to further develop our channels to market and enrich our product offer. The uncertain length and depth of the economic downturn still worries retailers generally, but the increase in sales for the first five weeks of 11.8%, give us confidence that we can continue to deliver growth in the second half.”

Lord Alliance of Manchester, CBE, Chairman, added:
“It is encouraging that we are maintaining growth across all our customer groups, and all of our product ranges. We know that we need to be conscious of the uncertainty around the economic outlook, however with the expertise of our management team and the positive start to the second half, I remain confident we can deliver another good performance.”

CHAIRMAN'S STATEMENT:
Results

Our home shopping business has continued to deliver strong revenue and profit growth in the 26 weeks to 30th August 2008, despite the economic conditions and the decline in consumer confidence. This is due to the favourable demographics of our customer base, coupled with improvements to our product ranges, websites and catalogues.

Revenue from continuing operations is up by 12.6% to £322.8m and operating profit is up by 12.0% to £45.9m. Adjusted earnings per share from continuing operations are up by 18.9% to 10.82p. The directors are proposing a 4.9% increase in the interim dividend to 2.78p. Net borrowings at 30 August 2008 have increased by £18.2m on last year to £220.5m. Our committed bank facilities from HSBC and Royal Bank of Scotland total £320m and are in place until 2012. Net interest payable on borrowings was covered 6.0 times (2007, 5.8 times) and gearing fell from 93% to 88%.

Customers
Revenue has been driven by an increase in both the number of new and established customers and the spend per customer. Successful trading in the last financial year, when we also launched a number of new brands, meant we started this year with a larger customer base. This has helped sales from established customers increase by 11% through a combination of 4% more customers and a 7% rise in revenue per customer. In addition an increased investment in customer recruitment resulted in sales from new customers rising by 20%.

It is encouraging that we continue to see growth in all our customer groups. The largest group, the midlife titles which target customers aged 45 – 65, grew by 9% to £214m, including good results from JD Williams, Oxendale Ireland, Premier Man and Marisota. The younger titles, targeted at customers aged below 45, continue to grow at the fastest rate, and saw sales increase by 21% to £94m. Jacamo and Simply Yours, which were launched in 2007, have continued to do well, complementing strong growth from the Simply Be and Fashion World brands.


Must ReadView All

Courtesy: Fancycrave.com from Pexels

Apparel/Garments | On 22nd Jun 2018

EU's retaliatory duty on US apparel takes effect

As part of the three-pronged response outlined by the European...

NCC applauds House passage of farm legislation

Textiles | On 22nd Jun 2018

NCC applauds House passage of farm legislation

The National Cotton Council (NCC) of the US has welcomed the passage...

Courtesy: Roman Pohorecki from Pexels

Apparel/Garments | On 22nd Jun 2018

UK launches inquiry on sustainability of fashion industry

The Environmental Audit Committee of the UK Parliament has launched...

Interviews View All

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Marten Alkhagen
Swerea IVF AB

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

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Mike Hoffman
Gildan Activewear SRL

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

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search