Industry And Cluster
N Brown's sales increased by 0.5 percent in Q1, owing to increased demand for clothing
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Author: Manali Bhanushali
N Brown, a UK-based fashion retailer, had its first-quarter revenue increase by 0.5% to £168.7 million, owing to increased demand for clothes and footwear.
Product revenue increased by 4.6 percent in the first quarter, marking the retailer's first quarter of product revenue growth since the third quarter of 2018.
However, income from financial services decreased by 5.9 percent. In terms of brands, Simply Be, Jacamo, Ambrose Wilson, JD Williams, and Home Essentials sales increased by 15.5% during Q1, accounting for 81% of product revenue. This is a 67% increase above what it was in 2019.
The positive news throughout the quarter was the rising preference for clothes and footwear, with demand increasing by 21% over the previous year.