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N Brown investors waiting for an explanation

Investors in the value fashion chain might be looking for more detail regarding a looming one-off charge
October 6, 2016

We said we couldn't see a near-term catalyst for N Brown (BWNG) shares when we advised offloading the stock in September. The situation hasn't been helped by news that the company will incur an exceptional charge of £5m-£8m following an error in relation to previous calculations of its financial services customer complaint redress process. It has notified the Financial Conduct Authority (FCA) and will undertake a thorough review.

IC TIP: Sell at 196p