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French Connection cuts losses in H1

French Connection’s losses narrowed in the first half of the year. The struggling fashion brand is continuing to close underperforming stores and in the last 12 months has closed seven stores, resulting in a 10.2 per cent reduction in average retail trading space. New stores will be opened in appropriate locations.

In March, the firm reported its fifth successive annual loss due to mounting competition from fast fashion brands such as ASOS and Zara. However, French Connection is taking significant steps to return to profitability in the near future.

Revenue at its wholesale operation rose 7.2 per cent, with the business returning to growth in UK, Europe and North America. French Connection, founded in 1972, now has 409 outlets. The company is expected to return to profit in 2019, in view of the rationalisation program and tighter cost controls.

French Connection’s current position is a far cry from the heady days of 2004 when the huge success of its FCUK brand boosted the company's shares. The brand offers a fashion-forward clothing range for men, women and children with a quirky spin on design, priding itself on quality and affordable prices. It has easy-to-wear staples for both day and night like everyday shirts, affordable skinny jeans, and casual-cool bomber jackets.

 
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