Primary Recommendation

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

March 2013

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.

The last couple of years have been an exciting period for multi-channel retailer, N Brown. It has bought Figleaves, an internet-only brand selling women's lingerie and also other businesses that have strengthened its position in the “plus size clothing” market. Together with some reinventing of its existing catalogues, which also include the Simply Be and JD Williams womenswear catalogues, the company now says that group online sales have gone from just under 10% in 2005 to a massive 54% of a much larger total. The shares have started to perform very well but we think they have further to run. Brokers ...

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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 (June 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)

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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