N Brown, the UK-based fashion retailer, saw its Q1 revenue grow by 0.5 per cent to clock £168.7 million – all thanks to increasing demand for apparels and footwear.The product revenue during the first quarter rose by 4.6 per cent – notably, the first quarter of product revenue growth since the third quarter of 2018 for the retailer.
The financial services’ revenue, however, fell by 5.9 per cent during the quarter.Talking about brands, sales at Simply Be, Jacamo, Ambrose Wilson, JD Williams and Home Essentials surged by 15.5 per cent during Q1, thereby constituting 81 per cent of product revenue. That’s a 67 per cent jump from what it was in 2019.
The good part during the quarter was to see the growing liking for apparels and footwear, with the demand increasing by 21 per cent from last year.It is worth noting that N Brown’s own womenswear brand grew by 27 per cent in Q1, while menswear brand rose by 25 per cent.
The Group ended the quarter with net cash of £84.9 million, which will help the retailer invest more in strategic initiatives to drive profitable growth.
