By Michele Maatouk
Date: Tuesday 20 Jun 2017
LONDON (ShareCast) - (ShareCast News) - N Brown shares surged on Tuesday as the clothing retailer reported a near-6% jump in group revenue in the first quarter thanks to a strong performance from Simply Be and JD Williams.
In the 13 weeks to 3 June, group revenue was up 5.6%, while product revenue rose 10.2%, driven by a strong performance from Ladieswear. Online revenue was 16% higher, with 71% of revenue now generated online, up four percentage points on last year.
Sales at JD Williams were up 12.7% on the year, while Simply Be sales rose 20.5% and Jacamo saw a 5.5% increase in revenue.
Meanwhile, the number of total active customers increased 4%, with Power Brand active customers up 5%.
The company left its full-year guidance unchanged but said it was closing up to five loss-making Simply Be and Jacamo dual-fascia stores. This decision takes into account weak high-street footfall, both current and predicted, along with significant future business rate increases for some stores. Together, the five stores contributed £5m revenue but accounted for the entire £2m operating loss of the company's store estate in FY17.
N Brown said the process will be completed by the end of August and it expects exceptional costs of between £10m and £14m, of which approximately 70% will be cash.
Chief executive officer Angela Spindler said: "We are pleased to report a good Q1 performance, with continued momentum across all of our brands and categories. Ladieswear and Simply Be in particular had a very strong period, with good responses to our Spring/Summer campaigns, leading to further market share gains.
"As a result of ongoing weak footfall in some locations, and with a clear focus on driving financial returns across all areas of our business, we will be closing up to five loss-making stores."
At 0840 BST, the shares were up 12.2% to 319.50p.
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Currency | UK Pounds |
Share Price | 15.25p |
Change Today | 0.70p |
% Change | 4.81 % |
52 Week High | 28.00 |
52 Week Low | 13.98 |
Volume | 115,872 |
Shares Issued | 463.33m |
Market Cap | £70.66m |
RiskGrade | 350 |
Value |
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Price Trend |
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Income |
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Growth |
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Latest | Previous | |
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Interim | Final | |
Ex-Div | 02-Jan-20 | 04-Jul-19 |
Paid | 05-Feb-20 | 02-Aug-19 |
Amount | 2.83p | 4.27p |
Time | Volume / Share Price |
16:07 | 420 @ 14.50p |
16:07 | 16 @ 15.45p |
16:04 | 1,023 @ 14.59p |
15:33 | 5,253 @ 15.00p |
14:45 | 3,000 @ 15.00p |
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