N Brown Group returns to profit achieving EBITDA “above market expectations”

N Brown Group, the owner of JD Williams, Simply Be and Jacamo, is back in the black and positioned for “sustainable growth”. For the full year, ending 2 March 2024, adjusted EBITDA was above market expectations.

The company reported that revenues fell by 9.8% to £600.9 million, down from £677.5 million the year prior, which is said was due to “challenging market conditions” and a focus on driving profitable sales.

Profit improved by £8.4 million to £13.3 million, however, adjusted EBITDA fell by 12.5% to £47.6 million.

In 2023, JD Williams launched a new premium line called Anthology and Simply Be joined Sainsbury’s third-part roster. As for Jacamo, it improved its offering by expanding across the key categories of smart casual, denim, and footwear.

Steve Johnson, CEO, “We have delivered against our strategic and financial objectives this year. We have kept to our transformation plans, despite the macro-economic backdrop, whilst building resilience through our strong balance sheet, and achieving adjusted EBITDA above market expectations.

“Our customers are now seeing tangible benefits from our transformation, with an enhanced experience being delivered by our new websites and our recently launched Product Information Management system ensuring customers have more detailed product descriptions to inform their purchases.

“Looking ahead, our strong liquidity position allows for continued investment in our strategy, positioning the business for sustainable growth whilst always improving the customer experience.
“I’d like to thank all our colleagues for their continued hard work in progressing our transformation and for the results achieved this year. We are confident in our strategy and in building a stronger N Brown for all stakeholders.”