N Brown returns to H1 profitability despite revenue fall

N Brown has posted a pre-tax profit of £200,000 for the half year ended 31 August 2024, up from a loss of £2.8m in the same period last year.

This profit comes despite the fact that the company saw its revenues fall 6.7% down to £277.2m from £297m.

The retailer stated that this fall in revenue was down to a 7.9% drop in product revenue which it blamed on “unseasonal weather”.

N Brown highlighted its successful launch of a mobile-first website for JD Williams and its new product information management (PIM) system across all three major brands.

Steve Johnson, interim executive chair and chief executive, said: “We have built on our return to profit in FY24 by delivering year-on-year progression in the first half of FY25. Our focus on maximising profitable sales and managing the cost base in a soft trading environment, has ensured we remain on track to achieve management’s full year adjusted EBITDA expectations and we are encouraged by trading at the start of Q3.

“We have continued to deliver against our self-funded transformational priorities, including the successful launch of the new JD Williams website and our Product Information Management system to the remaining strategic brands, whilst our financial services transformation continues to progress well with the new platform now in testing. These developments will enhance the customer experience and will be supported by strengthened marketing activity to help position the business for sustainable profitable growth.”