The owner of Simply Be, JD Williams and Jacamo has seen the benefits of its digital transformation plans with a return to a pre-tax profit, despite falling sales.
N Brown Group’s full year results, for the 52 weeks to 02 March, reported a pre-tax profit of £5.3mn, up from a loss of £71.1mn the year before. However, group revenue decreased 9.8% which the group said reflected “the continued challenging market conditions”.
N Brown’s statement stressed that the group had made progress in its transformation plans, thanks to an the launch of Jacamo’s new mobile-first website and the introduction of Product Information Management (‘PIM’) system.
It has also worked on its third-party brands offering, with Simply Be also launching a lifestyle sports brand TALA and started offering select lines in Sainsbury’s stores. Additionally, JD Williams introduced its Anthology premium line.
Steve Johnson, chief executive of N Brown Group, said: “We have delivered against our strategic and financial objectives this year. We have kept to our transformation plans, despite the macro-economic backdrop, whilst building resilience through our strong balance sheet, and achieving adjusted EBITDA above market expectations.
“Our customers are now seeing tangible benefits from our transformation, with an enhanced experience being delivered by our new websites and our recently launched Product Information Management system ensuring customers have more detailed product descriptions to inform their purchases.
“Looking ahead, our strong liquidity position allows for continued investment in our strategy, positioning the business for sustainable growth whilst always improving the customer experience.”
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