N Brown gets a kick from underwear

5th Jul 2011 07:36

Online and overseas sales are playing an increasingly important part in the growth story of N Brown Group, the FTSE-250 online and catalogue retail firm.Total group revenue increased 5.1 percent in the 18 weeks to July 2nd this year. On a like-for-like basis (adjusting for its new lingerie outfit Figleaves) revenue growth was 1.6 percent.However, marketing activities have cut into gross margin, which saw a 0.2 percent decline.The firm, which owns the JD Williams brand and boasts broadcaster Anna Ford as a member of the board says "the pattern of demand is consistent with last year as menswear and footwear are growing strongly and ladieswear is slightly down."In its interim management statement it is keen to emphasise that online sales now account for 47 percent of business and that its "Simple Be" brand is performing strongly in both the USA and Germany.Interestingly for a company which provides credit to its customers, it claims the default rate on loans is in line with expectations, suggesting the British consumer is weathering the current financial storms.BS