N Brown Group has seen pre-tax profit fall almost thirty percent to £59.5 million for the 12 months to 29 February in what the company has described as a critical year for its transition into digital.
The company, which owns the brands: Simply Be, Jacamo and JD Williams has stated that it has made a ‘significant progress in transition to digital’ with 85 percent of its full-year product revenue generated through its digial channels.
“As we move forward, we have refreshed our strategy, evolved our key pillars of growth and are pushing on with further work to streamline our brand portfolio, improve our product, create a brand new Home proposition whilst improving our digital capabilities and developing our financial services offer. Challenges remain in the year ahead, but we are focused on accelerating the business and are confident we are taking the right actions to create a sustainable, profitable business for the long term which has the potential to generate significant value.” – Steve Johnson, CEO.
