Revenues slip at N Brown Group

N Brown Group has reported a drop in revenue of 1.8% for the year to 26 February 2022.

The retailer, which own JD Williams, Simply Be, Ambrose Wilson, Jacamo and Home Essentials, said the drop in revenue reflected a 0.6% fall in product sales and a 4% reduction in financial services.

However, the group said that excluding  the closure of lingerie division Figleaves in early 2021/22, product revenue grew by 4%.

Adjusted EBITDA was up 11.9% year on year to £95m.

N Brown Group hired external consultants in autumn 2021 to conduct a review of strategy which resulted in:

  • A focus on growth through its three strategic brands: JD Williams, Simply Be and Jacamo.
  • Home will remain an important category for N Brown, but its focus will shift to growing this through the multi-category platform of JD Williams alongside a standalone home brand.
  • Establish the remaining brands as a “heritage” portfolio, focused on stabilisation and value protection rather than growth, with no further brand migrations planned at present. This includes Home Essentials and Ambrose Wilson.
  • Full integration of its flexible credit offer into the core of the customer value proposition.
  • Elevation of data as an asset at the core of the strategy, driving daily decision making. Read More…..