N Brown, the owner of JD Williams, Jacamo and Simply Be, said its transformation programme is on track, despite reporting a decline in revenues.

The Manchester-based company, which is transforming itself from a catalogue retailer to an online company, said its group revenue fell 0.2% in the 13 weeks to May 28, while product revenue declined 1.6%.

However, the group said revenues in its financial services arm and online platform were up 3.4% and 6% respectively, adding that overall trading is in line with expectations.

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Angela Spindler, CEO, commented: “Product sales have been satisfactory when viewed against the challenging market backdrop.”

Simply Be and Jacamo revenues were both up year-on-year, driven by ongoing product improvements and new season campaigns.

The JD Williams brand saw double-digit growth, but revenues were slightly down due to a weak performance from the Fifty Plus title.

Product revenues of the group’s secondary brands, namely Fashion World and Figleaves and Marisota, were marginally lower year-on-year.

As part of the transformation process, N Brown has invested £65m in its digital systems and merchandise teams.

The group is now in the process of testing its new web platform and credit systems, with the next milestone being the launch of its new US website in August.

“Our systems transformation programme, Fit 4 the Future, remains on track in all respects,” said Spindler.

“Looking forward, our new systems will give us a strong platform to capitalise on the significant growth opportunities ahead.”

 

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