Business | Business News The company behind fashion brands JD Williams and Simply Be has reported weaker sales as shoppers continued to tighten their belts, but hailed a return to an annual profit. Shares in N Brown , which also owns menswear brand Jacamo , soared by nearly a fifth after it revealed it had shored up its balance sheet over the past year. The company swung to a pre-tax profit of £5.
3 million for the year, having recorded a £71 million loss the prior year. Nevertheless, it faced challenging market conditions with cost-of-living pressures reflected in consumer spending behaviour. It reported group revenues of £601 million in the year to March, a 10th lower than the £666 million reported this time last year.
N Brown said it felt the effect of cautious customer buying behaviour leading to fewer online orders. “Whilst there are signs of improvement, there is still significant pressure on household budgets and consumer confidence is low by historical standards, impacting spending on non-essential items,” the company said. It also said “unseasonable” weather conditions made it harder to sell summer ranges through the spring and July to August.
But this was partly offset by an increase in the average selling price of its products, driven by price rises and by customers buying more of its premium ranges. FTSE 100 rebounds with positive session after two days of losses B&M shares slide as results leave analysts with 'more questions than answers' Outsourcing g.
