Brown Group Share Price (BWNG)

a couple of big trades through the day 2.5M and 0.5M any ideas what is happening

Brown (N.) Group (BWNG) Director name: Mr Andrew Higginson Amount purchased: 25,500 @ 368.00p Value: £93,840

2.0m down on last year for 1st six months but key message appears to be the growth of new Customers (20%) , all ready to buy going forwards.

BoA Merrill Lynch downgrades Brown (N) from buy to underperform, target price cut from 280p to 260p.

Chief Executive of N Brown, Alan White, has sold 234,699 shares, post-exercise of options, just a week after the internet and catalogue home shopping company said sales were up. White, who joined the company in September 2002, earned himself £613,597 after selling the shares at 261.44p each. The CEO sold all of the 234,699 shares, having earned them through the company's long-term incentive plan and deferred annual bonus scheme.

CONT Progress is being made on all the key initiatives within the business. Online revenue growth remains strong and now accounts for almost 53% of total sales as we capitalise on the trading opportunities in this channel. The financial performance of the most recent acquisitions, High & Mighty and Figleaves, and the international businesses are going according to plan. The Jacamo menswear range will be installed on the mezzanine floors in the Simply Be concept stores in Liverpool and Manchester (which opens September 2012) in addition to Gateshead where it is trading well. Neither the prevailing economic backdrop nor the weather conditions are helpful to our business. However our flexible business model allows us to target the marketing investment and manage our cost base in order to deliver the best result in any given circumstances. This flexibility, combined with the focus on our key initiatives and the continuing strong financial position of the group, underpins and maintains the board's confidence in the future.