N Brown sales sees sales plunge, warns on profit

In light of current market conditions and the rapidly changing developments regarding Covid-19, N Brown plc in an update said that at this stage, there is no way of predicting the impact the virus will have on the company’s sales, nor how long the pandemic will last and what effect it will have on customer behaviour. The company added that while trading for the first two weeks of the new financial year was in line with expectations, during the last week, N Brown saw a very significant and sudden reduction in customer demand with daily product sales down in excess of 40 percent compared to expectations. The company anticipates a material reduction in demand through FY21. The company further said that it expects adjusted profit before tax to be lower than the previously guided range of 70 million pounds to 72 million pounds.