N Brown tunrover up 5.1%

7th Jul 2009 07:37

Home shopping company N Brown said in the 18 weeks to July 2009 turnover increased by 5.1%, in line with its plan, with contributions from all its major customer and product groups.Sales have been driven by the improved targeting and quality of its home shopping catalogues, along with the recent warmer weather, which has boosted demand for summer clothing and footwear.The group said the expected increase in bad debts has resulted in a reduction in the rate of gross margin by 1.5%, although at the pre-tax profit level this is fully offset by operational cost savings and reduced interest charges."The group's financial position remains strong and the board continues to believe that our business model and strategy to target niche customers and products will prove to be beneficial in the remainder of the financial year," said the group.