N Brown Group partners with Tesco
N Brown Group has announced its full year results to 4th March. Revenue rose 2.5 per cent to £887.7 million with online revenue up by 10 per cent year on year, with 71 per cent of all traffic coming from mobile devices. However the business was impacted by exceptional costs amounting to £25.2 million relating to under-provision of compensation for customers who had used its credit facility. It also showed an operating loss for its retail store arm.
It achieved a stronger performance in womens wear with sales up by 4.2 per cent year on year and the business also said that JD Williams, Simply Be and Jacamo all enjoyed growth in sales.
The group also announced a new partnership with Tesco which will see it will sell a small selection of Simply Be and Jacamo product on Tesco Direct and in some Tesco stores overseas.
N Brown Group chief executive Angela Spindler said: ”Tesco Direct is one of the UK’s largest ecommerce sites, and this partnership will be an excellent way of further increasing awareness of our unique offer in an under-served market.”
Spindler also commented “I am pleased with the progress made this year, as we continue to build on our position as an agile, online fashion retailer. Our improved trading agility is evident in the figures we are announcing today. Our performance accelerated in the second half as we demonstrated our enhanced ability to flex our product offering in season.
“The macro-economic back drop remains challenging for retail. Against this back drop we remain vigilant over our core costs and efficiencies. We are also continuing to invest in improving our capabilities and customer experience to enable future profitable growth.
N Brown Group also revealed that it has appointed Richard Clark as its international director. Clark had been marketing and international director at Boohoo until January this year.
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