Price-Wizard Shopping News:
|Wednesday, 11th October, 2006|
Profits Boost for N. BrownHome Shopping sales for N.Brown (excluding House of Stirling which has now been closed and the newly acquired Gray & Osbourn), for the first half of 2006, rose by 10.2% to £248.6m and operating profit rose by 18.6% to £35.1m. Online sales now account for 21% of total sales.
N.Brown, whose most recognised brands include JD Williams and Ambrose Wilson, and who acquired the high-end-clothing catalogue retailer Gray & Osbourn in June of 2006, said the new addition to its portfolio was trading in line with expectations. The aquisition of Gray & Osborn expands the reach of N.Brown into a more lucrative, higher socio-demographic customer base.
Ladieswear was reported as being the strongest sector, with sales up 11% to £138; however, menswear sales were also strong, up 9% to £18m. Home and leisure sales were also buoyant, rising by 11% to £63m. Catalogue brands reporting especially fast take-up include Simply Be and Fashion World, both of which cater for fashion to a younger audience.
Lord Alliance CBE, Chairman, noted: "Our strategy of focusing on servicing the specialised clothing and footwear needs of our target customer groups has produced these encouraging results. With a strong start to the second half, despite increasingly tough comparators, we remain optimistic for the outlook for the full year."
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