Updates

N Brown

June 2015

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

N Brown’s results mark the culmination of a tricky year, which included an unhelpfully mild autumn and tactical price cuts to attract new customer growth. When combined these caused pretax profit to fall 13.4% to £86.2m on unchanged turnover of £818m. Eps was 23.9p compared with 27.7p in 2014. With capital expenditure tripling from £21m to almost £63m net debt rose from £214m to £246.6m (net debt / EBITDA: 2.1x). N Brown, which is best known for selling plus sized clothing via catalogues and online through brands such as Simply Be, JD Williams and Jacamo, increased new customer numbers by 2.4% and these represented 23% of sales. In terms of product category, ladieswear sales fell 2.2% ...

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Safestyle - Another rise in market share

Utilitywise - Record new customer growth in March

N Brown (March 2017)

N Brown - Delay in Fit 4 the Future program (December 2016)

N Brown - C.70%-80% of FY'17 US$ requirements already hedged (August 2016)

N Brown - Small eps downgrade triggers over-reaction (June 2016)

N Brown - Trading unaffected by mild winter (March 2016)

N Brown - Cooler autumn boosts sales (December 2015)

N Brown (August 2015)

N Brown (May 2015)

N Brown - Colder weather boosts sales (February 2015)

N Brown - Warm September triggers profit warning (November 2014)

N Brown - Prospective PE just 14.1 (August 2014)

N Brown - New eps forecast for 2017 of 37.4p (June 2014)

N Brown - Migration of sales online should trigger large reduction in costs (April 2014)

N Brown (March 2014)

N Brown (November 2013)

N Brown - Shares strong ahead of results on 9th October (October 2013)

N Brown - Online sales 56% of total (September 2013)

N Brown - High margin Internet sales now account for 54% of turnover (June 2013)

N Brown Group - Over half of catalogue retailer's sales now online - our price target is 992p (March 2013)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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