Plus-size fashion retailer N Brown shares soar 6% on better than expected first quarter sales
Shares in plus-size fashion retailer N Brown soared 6 per cent on better than expected first quarter sales.
The Manchester-based group, which is attempting to transform itself from a catalogue mail-order business to an online-focused retailer, said first quarter revenue fell just 0.2 per cent.
That was better than the 2 per cent fall expected by analysts. Online sales were up 6 per cent.
Plump figures: Shares in plus-size fashion retailer N Brown soared 6% on better than expected first quarter sales
The group’s most popular labels include JD Williams, which is promoted by TV presenter Lorraine Kelly, Simply Be and menswear brand Jacamo.
It had recently issued profit warnings amid weaker sales blamed on the unseasonable weather.
Chief executive Angela Spindler said: ‘Product sales have been satisfactory when viewed against the challenging market backdrop.’
She said it had also grown sales via its customer credit business.
Analyst Darren Shirley at broker Shore Capital said: ‘The performance has been far more resilient than expected across both product and financial services, with a strongly improving trend.’
Shares rose 7 per cent, or 14.9p to 229.3p.
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