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Simply Be retailer N Brown closes five stores as sales lifted by online growth N Brown sells womenswear to the over 50s through its Simply Be range N Brown, the online retailer behind the Jacamo and Simply Be fashion brands, is shutting five of its shops after blaming weakening footfall and soaring business rates in the south east. The move comes despite the company posting upbeat sales figures for its first quarter, driven by strong online sales of its womenswear brands. Shares in N Brown were up by 15.5p, or 5.4pc to 300.3p in midday trading. Chief executive Angela Spindler, who has been spearheading the turnaround of the company from a dated catalogue business to online retailer, said that N Brown would be closing the shops to ensure the business had a profitable store estate. One of the Simpy Be and Jacamo dual-fascia stores earmarked for closure is its flagship shop on Oxford Street. "Footfall has softened across the industry and there has been the increase in business rates in the south which have added to the challenges and influenced our decision to close these shops", said Ms Spindler. Less than 3pc of N Brown revenues come from its 23 shops, with the rest from online. The company said that the closures will result in one-off costs between £10m and £14m. N Brown reported a 10.2pc lift n product sales during the 13 weeks to 3 June, driven by a 20.5pc jump in sales of its Simply Be clothes, which target plus-sized customers and 12.7pc lift in sales of its JD Williams range, which focuses on shoppers over 50. The sales performance was a significant improvement compared to the period last year when product sales were down by 1.6pc. Ms Spindler credited the upbeat sales performance to the company's new digital and technology investment which has meant N Brown can respond to fashion trends a lot faster and a "We are Curves" advertising campaign which she said "customers really bought into big time".
For the original version including any supplementary images or video, visit http://www.telegraph.co.uk/business/2017/06/20/simply-retailer-n-brown-closes-five-stores-sales-lifted-online/
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