N Brown Group, and its principal subsidiary, JD Williams and Company Ltd, is a leading internet and catalogue home shopping company, with over 140 years of experience in the distance shopping market. Our extensive ranges of value products, principally clothing, footwear, household and electrical goods, are carefully targeted at the right customers and are provided through whichever channels to market our customers demand. In addition we provide financial services to our customer base, including flexible credit plans.

http://www.nbrown.co.uk/

21 Oct Jefferies... 430.00 Buy

Nice bounce on this today, up nearly 20% at moment, dividend maintained (>8%) and profit down less than expected. Hopefully now bottomed out, one of my less successful shares and now a long term investment, just another 30% for me to break even, ignoring the dividends received.

Citigroup comment:
"Consensus PBT likely to remain unchanged — On the back of this statement we do not expect FY17E consensus PBT to change significantly. We have a FY17E PBT forecast £79.3m (EPS 22.7p, -9.3% yoy), this assumes FY total sales of +1.9%. We assume FY gross margins -70bp with opex growth of +3%. This drives forecast EBIT growth of -8.9% yoy. Our FY17E PBT forecast of £79.3m (-10.2% yoy.

Neutral rating, TP 180p

We value N Brown on c. 9. 5x EV/EBIT for Feb 2018E in line with its recent average, this equates to c9x PE and a 6% dividend yield in the same forecast year."

Dropped to 160p a while back, but good news ( can't get worse!) and MoS +Broker "Buys" appear to have shifted this to 260p - maybe if the excitement fades and Sales remain level it may be worth topping up; to AvDn ( always risky ).
EDIT(30May2018)-sp £2 DYOR but looking at the graph from 2014 it's been staggering downwards from over £5 . . . despite being a Long-Term "Distance Seller" ( the JD Williams arm)... so the "INTERNET" is hardly any change at all..... yet the Clothing+Household buying Public appear to be going elsewhere.... Management - that's it...like M&S unwilling to see it's THEIR fault!
EDIT(11Oct2018)-Dividend halved ( now ~5% yield), sp lost 20%, now £1.11 - that's a mighty (again) fall!