N Brown profits and sales slump in ‘year of restructuring’

n brown

N Brown has reported falling profits and sales across its brands in what it called a “year of restructuring”.

In the 52 weeks to February 29 the fashion retailer saw adjusted profit before tax fall 29% to £59.5m, while group revenue slumped 6% to £858m.

Since the coronavirus pandemic struck UK shores in March, N Brown reported that group revenue was down 22%, while product sales had plummeted 29% but had rallied somewhat over the last three weeks to be down 21%.

In what it called a “critical year for the group’s transition to digital”, N Brown reported that 85% of all product revenue for the period was generated through digital channels. Both womenswear and menswear saw a 5.5% sales upswing online.

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