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N Brown home shopping sales up

22 Jul '06

2 min read

Direct home shopping retailer N Brown Group reported that in the first 20 weeks of the current year to 15th July 2006 group turnover from continuing operations is up by 7.9 percent with strong growth in our core home shopping business where sales are up 9.4 percent on last year.

The home shopping sales growth has been driven by improvements in performance in all key customer and product groups.

In addition we continue to benefit from our strategy of increasing the number of active customers from better response rates to our mailings together with successful recruitment campaigns. The proportion of total sales placed over the internet has exceeded 20 percent so far this year.

Our drive to keep tight control of stock levels is proving successful, with total stocks now at last year's levels, even with the group's increased rate of turnover. This has been achieved by more aggressive in-season markdowns which will reduce the rate of gross profit in the first half by 0.5 percent.

The acquisition on 30th June 2006 of Gray and Osbourn, the high quality womenswear catalogue retailer, will provide us with the opportunity to develop our share of the ABC1 customer demographic group, an area where we see good potential for growth.

As we highlighted at the year-end, the comparatives with last year's strong results will get increasingly demanding as the year progresses. However, the board has confidence that the plans for the Autumn Winter season developed by the management team will deliver further progress in the current year.

N Brown is a leading direct home shopping retailer, fulfilment and financial services company with over 140 years of experience in the distance shopping market. Our extensive ranges of value products, principally clothing, footwear, household and electrical goods, are carefully targeted at the right customers and are provided through whichever channels to market our customers demand.

N Brown Group

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