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N Brown - Warm September triggers profit warning

November 2014

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 shares fell out of bed after N Brown warned that the unseasonably warm September meant that fewer people wanted to buy its winter ranges and full year results will be below expectations. Its new guidance is for pretax profit of £88m-£92m, down from previous forecasts for £103m.Interims themselves were in line, with a 3.2% fall in pretax profit to £42.7m on turnover virtually unchanged at £407.3m. Eps fell 8% to 11.6p. Gross margin improved 0.4% due to improved bad debt control, reflecting the success of its tighter credit policies. The unchanged sales reflect the later phasing of its marketing investment from 50:50 for its spring, summer / autumn, winter seasons to a 40:60 balance. Nevertheless, th ...

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N Brown - Warm September triggers profit warning

November 2014

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