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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  N Brown Group plc    BWNG   GB00B1P6ZR11

N BROWN GROUP PLC (BWNG)
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129.1 GBp   +0.47%
10/11N BROWN : sees lower offline sales restraining revenue, shares drop
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10/11N BROWN : Half-year Report
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10/08N BROWN GROUP P : half-yearly earnings release
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N Brown : sees lower offline sales restraining revenue, shares drop

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10/11/2018 | 11:55am CEST

(Reuters) - Plus-size fashion retailer N Brown Group Plc expects lower offline sales to hold back revenue temporarily, as it focuses on core brands and online sales.

Shares of N Brown, which also said it would cut its dividend by 50 percent to 2.83 pence to a more "sustainable level", fell 17 percent to a more than 13-year low in early trade.

The company, which posted a 5 percent drop in half-year adjusted pretax profit on Thursday, said it plans to spend more on promotions as it revamps to an online business model.

Over the last few years, N Brown has been trying to move most of its sales online as intense high street competition has forced many retailers to close physical stores. It closed its last 20 stores in August.

The company's chief executive officer, Angela Spindler, stepped down last month.

"Whereas much progress has been made transforming the business into an online retailer, we have not yet achieved the growth in product or international that we would have hoped for," Chairman Matt Davies said in a statement.

N Brown said that its overall revenue rose 1 percent, but added that product revenue fell more than 3 percent. Margins declined 60 basis points for the six months ended Sept. 1.

The company, which is moving away from catalogue's to web sales, said online sales rose 3.8 percent and accounted for 77 percent of product revenue.

(Reporting by Sangameswaran S and Karina Dsouza in Bengaluru; Editing by Bernard Orr)

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Financials (GBP)
Sales 2019 945 M
EBIT 2019 93,8 M
Net income 2019 52,9 M
Debt 2019 427 M
Yield 2019 8,99%
P/E ratio 2019 7,50
P/E ratio 2020 5,53
EV / Sales 2019 0,84x
EV / Sales 2020 0,82x
Capitalization 366 M
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Technical analysis trends N BROWN GROUP PLC
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Mean consensus HOLD
Number of Analysts 8
Average target price 1,92  GBP
Spread / Average Target 50%
EPS Revisions
Managers
NameTitle
Steve Johnson Chief Executive Officer & Director
Matthew Samuel Davies Chairman
Andy Haywood Chief Operating Officer
Craig Barry Lovelace Group Chief Financial Officer & Executive Director
Adam John Warne Chief Information Officer
Sector and Competitors
1st jan.Capitalization (M$)
N BROWN GROUP PLC-56.04%476
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