Brown (N.) Group (BWNG)

Sector:

Retailers

Index:

FTSE Small Cap

54.00p
   
  • Change Today:
      3.50p
  • 52 Week High: 162.80
  • 52 Week Low: 10.04
  • Currency: UK Pounds
  • Shares Issued: 282.06m
  • Volume: 4,112,986
  • Market Cap: £152.31m
  • RiskGrade: 526

N Brown backs FY guidance as first-quarter revenue drops

By Michele Maatouk

Date: Thursday 20 Jun 2019

LONDON (ShareCast) - (Sharecast News) - Womenswear retailer N Brown backed its full-year guidance on Thursday as it posted a drop in first-quarter revenue amid "challenging" markets.
In the 13 weeks to 1 June, total revenue declined 3.8%, with product revenue down 5.4%. However, digital revenue pushed up 3% and revenue from financial services grew 8% during the quarter.

The company, which closed its last remaining stores last year, said digital revenue now accounts for 83% of total revenue.

Sales at JD Williams were up 5.9%, while Simply be and Ambrose Wilson saw sales rise 4.6% and 10.1%, respectively.

Chief executive officer Steve Johnson said: "We're pleased to report a solid trading performance in the first quarter. In line with our strategy, we delivered digital revenue growth across JD Williams, Simply Be, Ambrose Wilson and Jacamo as we continue to improve our customer offer whilst managing the decline of our legacy offline business.

"The retail market remains challenging, but we have a clear strategy to deliver profitable digital growth and our full year expectations are unchanged."

N Brown reiterated its 2020 guidance. It expects group operating costs to decline by 2.5% to 4.5%, while net debt is expected to come in between £440m and £460m, although half-year net debt is set to be between £475m and £500m, given continued customer redress and tax settlement payments.

Shore Capital said: "Brown's Q1 trading update contains no surprises in our view and represents a solid start to the year."

Analysts Darren Shirley and Clive Black said the 5.4% drop in product sales is broadly as expected and reflective of a strategic focus on profitable sales, with the acceleration of the customer migration to online is evident in digital product growth of 3%.

At 0915 BST, the shares were up 2.2% at 134.10p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

BWNG Market Data

Currency UK Pounds
Share Price 54.00p
Change Today 3.50p
% Change 6.93 %
52 Week High 162.80
52 Week Low 10.04
Volume 4,112,986
Shares Issued 282.06m
Market Cap £152.31m
RiskGrade 526

BWNG Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
98.14% above the market average98.14% above the market average98.14% above the market average98.14% above the market average98.14% above the market average
95.83% above the sector average95.83% above the sector average95.83% above the sector average95.83% above the sector average95.83% above the sector average
Price Trend
25.93% below the market average25.93% below the market average25.93% below the market average25.93% below the market average25.93% below the market average
6.12% below the sector average6.12% below the sector average6.12% below the sector average6.12% below the sector average6.12% below the sector average
Income
82.12% above the market average82.12% above the market average82.12% above the market average82.12% above the market average82.12% above the market average
87.88% above the sector average87.88% above the sector average87.88% above the sector average87.88% above the sector average87.88% above the sector average
Growth
82.93% below the market average82.93% below the market average82.93% below the market average82.93% below the market average82.93% below the market average
75.51% below the sector average75.51% below the sector average75.51% below the sector average75.51% below the sector average75.51% below the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 3
Sell 0
Strong Sell 0
Total 4
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

BWNG Dividends

  Latest Previous
  Interim Final
Ex-Div 02-Jan-20 04-Jul-19
Paid 05-Feb-20 02-Aug-19
Amount 2.83p 4.27p

Trades for 30-Sep-2020

Time Volume / Share Price
16:35 63,306 @ 54.00p
16:35 102,285 @ 54.00p
16:29 405 @ 53.80p
16:29 66 @ 54.50p
16:29 1,220 @ 54.00p

BWNG Key Personnel

CEO Steve Johnson
CFO Rachel Izzard

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