N Brown's share price sinks despite gains in plus-size revenues

Lucy White
Christmas Sale Results Are Announced
N Brown has announced partnerships with a number of clothes retailers including Debenhams (Source: Getty)

Clothing retailer N Brown ended today with its shares down 5.51 per cent, the FTSE's second biggest laggard, despite strong revenue gains from its plus-size ladieswear brands.

Simply Be saw its revenue rocket by 21 per cent, while JD Williams increased at a more modest 12.1 per cent.

Men’s clothing label Jacamo, which has collaborated with former England cricketer Freddie Flintoff, boosted its revenues by 6.7 per cent.

Read more: Jacamo and Simply Be owner N Brown announces £40m cost for flawed insurance plans

"We made significant ladieswear market share gains against what remains a subdued consumer backdrop. In line with other retailers, FX rates represent a headwind and this was particularly felt this half," said Angela Spindler, N Brown's chief executive.

“Our transformation into a flexible, online retailer continues to benefit all aspects of our business."

Although group revenue was up 5.6 per cent for the first half of 2017, to £453.4m, margins were hit by currency exchange difficulties.

Read more: Matches Fashion is opening a new east London studio

Profits exceeded analysts’ consensus estimates, but Peel Hunt reiterated its “hold” rating saying it was “time to prove that the business can deliver a return to sustainable earnings growth”.

N Brown said it would focus on gaining share in the UK, international expansion, and developing partnerships.

Today it annoucned partnerships with Amazon Fashion for Simply Be and Jacamo, Namshi for Simply Be and Debenhams for Jacamo to sell capsule collections online.

Read more: Amazon tests one-hour fashion delivery from catwalk to doorstep at London Fashion Week

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