The retailer said it was disappointed by the slower profit growth, but remained optimistic that its recent restructuring would ensure future growth.
“The company is transitioning from a traditional model: we are changing our emphasis away from catalogue titles to a digital platform,” said Angela Spindler, chief executive of N Brown.
Spindler believes this “necessary transformation” is the reason why the plus-sized fashion retailer now expects pre-tax profit to be slightly below the current market consensus of £88m.
“The mail order model is a declining market so we have to step back a bit to step forwards,” said Spindler.
Full-year sales for N Brown, whose brands include Simply Be, JD Williams and Jacamo, were flat. but like-for-like sales increased 3.6 per cent for the 13 weeks to 28 February, the only quarter to record year-on-year growth.
Online sales penetration rose to 62 per cent in the most recent quarter, up from 59 per cent last year.