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N Brown back in the black as online powers growth
N Brown reported a return to profit in its interim results, citing its focus on ecommerce as one of the key reasons for its turnaround.
The retailer reported statutory profit before tax of £18.8m for the 26 weeks ending August 31, 2018 up from a £27.1m loss for the 26 weeks to September 1, 2018. Operating profit also rose to £14.7m, up from a £28.3m loss in the previous year.
Group sales fell 5.4% to £432.9m, while product revenues fell 9.3% to £282.3m for the period.
N Brown reported adjusted EBITDA of £54.1m, a 4% increase from the previous year.
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