UK: French Connection “back on track” with H1 profit
By just-style.com | 15 September 2010
- H1 profit of GBP0.2m, versus GBP5.4m loss
- Turnover up 4% to GBP96.2m
- Men’s wear and e-commerce drives growth
Fashion retailer French Connection Group is “back on track” after moving back into profitability in its first half, buoyed by a 4% rise in turnover.
Like-for-like sales in the UK and Europe moved up 3% in the six months to 31 July, the UK-based business said, driven by strong performances from men’s wear and e-commerce.
“I am pleased with the substantial improvement in operating results and confident that French Connection is now back on track,” said company founder and chairman Stephen Marks.
“The restructuring arising from our strategic review is nearly complete and we are at the beginning of a new period of growth as evidenced by our new licence agreement with Li & Fung in North America.”
Sectors: Apparel, Finance, Retail
Companies: French Connection, Li & Fung
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