Updates

N Brown

February 2017

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

N Brown has reported its Q3 update, which says product revenue was up +5.9%. Online penetration is now at 70% (up from 68% at the H1 stage) and womenswear delivered its first period of double-digit growth since H2 08.The Power Brands grew sales 10% with 13% more active customers, with growth double digit at both Simply Be (H1 +6%) and JD Williams (H1 +11%) but Jacamo was less strong (H1 +3%). Pleasingly, Traditional (22% of FY16 product revs) was up low single digits (a swing from -4% H1) after action on marketing, promotion & product. The Support brands grew low single digit (flat H1). Gross margin on product is steered to be 1%-1.5% lower.The financial services trend was soft with Q3 revenues down 0.5% but is offs ...

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Horizon Discovery

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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