THE new boss of N Brown will face investors for the first time on Tuesday as the home shopping group’s customer recruitment drive begins to pay off.
Sales are rising among customers of N Brown’s younger brands, such as Fashion World, Jacamo and Simply Be. This is helping to offset slower trading among brands such as Fifty Plus, JD Williams, Julipa and Marisota, where older customers are watching their spending.
It recently posted growing full-year revenues and profits as sales to new shoppers surged by 24 per cent.
New chief executive Angela Spindler, the former managing director of Debenhams who joins from discount chain The Original Factory Shop, replaces long-standing boss Alan White tomorrow.
She will face investors at the company’s annual general meeting (AGM) in Manchester as it updates on trading since the start of March.
The group – which also owns lingerie label Figleaves, tall customer specialist High & Mighty and homeware catalogue supplier House of Bath – is boosting investment in customer recruitment, particularly online through pay-per-click advertising, while cutting back on catalogue mailings.
As a result, online sales are expanding strongly and now account for more than half its revenues.
Analysts at Jeffries said Spindler is coming to a business in “rude health”.
They added: “With momentum returned to the sales lines, Angela Spindler will join an operation performing strongly.
“As a consequence, we expect the change in management to be evolutionary rather than revolutionary.”
Analysts at Oriel Securities added: “N Brown’s strategy to increase spending on customer recruitment will continue to bear fruit. Better retail practices from the new management team will only help further.”