N Brown share price drops further in spite of revenue improvement

Home shopping retailer N Brown announced yesterday that group revenues had risen 2.6 per cent as like-for-like sales increased 2.5 per cent.

The figures, in an interim report which cover the 15 weeks to 14 June, are in line with management expectations for the period, with chief executive Angela Spindler stating the company was in a “period of transition”.

But N Brown, which has suffered a fall in its share price of over 18 per cent this year, closed down 2.69 per cent at 423.5p.

The Manchester-based firm, whose clothing range includes brands JD Williams, Jacamo and SimplyBe, also announced a UK-wide expansion plan, including a new Oxford Street shop, due to open in September. Online sales still account for 58 per cent of all its sales.