N Brown warns soaring inflation could impact growth

British online clothing & footwear retailer N Brown has said that rising inflation and cost could impact the company’s growth in the coming year.

The digital business said that as a result of the “escalating and fast-moving inflationary environment” it anticipates adjusted pre-tax earnings will be similar to the level reported last year.

The company closed its most recent financial year with product revenue growth of nine per cent compared to the previous year. According to the business, total active customers are now in year-on-year growth, rising by three per cent to 2.9 million.

It said that it expects to report all financial results in line with previous guidance, including an adjusted EBITDA between £93 and £96 million.

“I am pleased with the progress which we continue to make and despite the volatile backdrop our expected full year numbers remain in line with previous guidance,” said Steve Johnson, chief executive, N Brown. “It’s encouraging to see full year customer numbers return to growth and to be closing the year with a strong balance sheet.”

Johnson added: “We enter the new financial year with continued confidence in our proposition. We are not immune to the supply chain and inflationary cost pressures being seen across the wider market, however, we continue to take proactive actions to offset these and mitigate the impact on our FY23 performance.”

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