N Brown Group has said its revenues are continuing to improve, helped by the launch of its new homewares brand.
The parent company of Ambrose Wilson, JD Williams, SimplyBe and Jacamo, said its revenue trajectory has improved despite “sudden and significant decline” in the first quarter due to lockdown measures, in a trading update for the half-year to August 29.
Product revenue losses had stabilised to 20.5 per cent during the first half of the year, the group reported.
Group revenues recovered to be down 17.6 per cent, from a 22 per cent drop in the first quarter of the year.
Demand for home and gift, supported by the Home Essentials brand it launched on April 1, is “well above” the previous year, it said.
N Brown chief executive Steve Johnson said: “It is encouraging to see a continued improving trend in trading following the sharp decline witnessed upon the initial impact of Covid-19, with trading in-line with expectations.
“Home & Gift sales in the first half of our financial year have been particularly strong and our fashion brands continue to recover, particularly JD Williams and Jacamo.”
He continued: “We have accelerated our digital transformation and 92% of our product revenue is now digital.
“Our financial services cash collection rates have remained stable and we continue to offer support and flexibility to those credit customers who require it.
“We will continue to implement our refreshed strategy, and particularly mindful of an uncertain UK retail environment, we will continue to focus on cost control, deleveraging and cash generation.”
