N Brown counts the cost of wet weather
THE wettest April to June period on record has hit ladieswear sales at catalogue and online shopping group N Brown, the company said today.
The company, which also owns Figleaves and High & Mighty, said like-for-like sales in the 17 weeks to June 30 were ahead 1.9 per cent, lifted by menswear, footwear, lingerie and home.
However, ladieswear revenues have been lower than expected, primarily due to the unsettled weather, which has led to a 1 per cent lower rate of profit margin than anticipated.
Meanwhile, Lord Alliance of Manchester announced his intention to stand down as chairman after more than 40 years in the role, while chief executive Alan White will retire in the second half of 2013.