N Brown, the British fashion e-tailer, has seen a significant fall in its group revenue during the Christmas quarter.
The online fashion retailer saw its group revenue slump by 8.8 per cent for the 18 weeks that ended 2 January 2021.
Meanwhile, the product sales fell by 8.9 per cent during the period, compared to a slump of 28.8 per cent in Q1. Notably, revenues dropped at a slower rate of 8.3 per cent.
Talking of brands, the retailer’s notable fashion labels such as Simply Be, JD Williams, Jacamo, Home Essentials and Ambrose Wilson too saw their sales decline by 1.4 per cent during the period.
In the first quarter, however, the sales of the aforementioned N Brown brands had fallen by a huge 25.1 per cent.
The retailer said that the quarterly performance was much in line with its expectations, and it has now predicted an adjusted EBITDA between £84 million and £86 million for its fiscal year.
The Group has also warned that the ongoing COVID-19 restrictions all over the UK would present opportunities as well as challenges.
It is worth noting that last month, N Brown had completed its equity funding of £100 million, and thus moved from London Stock Exchange to its junior AIM market.