CATALOGUE and online shopping group N Brown pinned its hopes on its spring range after extra discounting hit profit margins in the run up to Christmas.
The company, which also owns Figleaves and High & Mighty, said like-for-like sales rose by 2% in the 19 weeks to January 7. Total group revenues were up by 2.3%.
The group said extra promotional activity had cut gross margins by 1% below last year’s level and said it will only meet full-year expectations if customers respond well to its new spring catalogues dispatched this month and in February.
