Price-cutting hits profits at clothing chain N Brown
Wednesday 06 July 2011
The catalogue and online shopping group N Brown warned yesterday that aggressive promotional discounting had cut into its profit margins, but said sales remained buoyant.
The company, which also owns the Figleaves womenswear and High & Mighty brands, said price-cutting was necessary to help drive up its revenues, which rose by 1.6 per cent on a like-for-like basis in the 18 weeks to 2 July.
The campaign to attract customers saw its gross margins dip by 0.2 per cent over the period, but revenues rose by 5.1 per cent. N Brown said sales of its menswear and footwear ranges were growing strongly, while ladieswear was down – a trend consistent with the same period last year.
High inflation was also hitting its core ladieswear ranges, while clothing at the higher price points was doing well. In its brand portfolio, Jacamo, Marisota and Simply Be all performed strongly.
N Brown said international sales for Simply Be in Germany and the US were rising in line with expectations.
- 1 Cyclist in Russia narrowly misses being hit by car and lorry
- 2 'F*ck it, I quit': KTVA reporter Charlo Greene quits live on air in spectacular fashion
- 3 What are your fingerprint words?
- 5 Pink Floyd new album: Band unveil cover art for first record in 20 years
Rihanna 'nude pictures' claims emerge on 4Chan as hacking scandal continues
Slough train station deaths: Woman and child killed after being 'pushed in front of train'
Kim Kardashian 'nude photos' leaked on 4chan weeks after Jennifer Lawrence scandal
'F*ck it, I quit': KTVA reporter Charlo Greene quits live on air in spectacular fashion
Jennifer Lawrence: Leaked 4Chan sex video branded 'fake' by users
Scotland could still declare independence – even without referendum, says Alex Salmond
Scottish referendum results: Cross-party consensus collapses amid Tory-Labour spat on the 'English question'
Hilary Mantel 'should be investigated by police' over Margaret Thatcher assassination story, says Lord Bell
Plebgate MP Andrew Mitchell called officer a 'little s**t', claim court documents 'exposing ex-Chief Whip's 'record of abusing police'
Archbishop of Canterbury admits doubts about existence of God
Labour Party conference: Ed Balls to set out plan to freeze child benefit to balance books
iJobs Money & Business
£65000 Per Annum Benefits + bonus: Clearwater People Solutions Ltd: If you are...
£20000 - £25000 per annum + OTE £40,000: SThree: SThree are a global FTSE 250 ...
£20000 - £25000 per annum + OTE £40000: SThree: As a Recruitment Consultant, y...
£20000 - £25000 per annum + OTE £40,000: SThree: SThree Group have been well e...