High-street clothing chain French Connection has admitted letting down customers by failing to stock enough fashionable merchandise - leading to an 18 per cent slide in UK sales over the last three months.

The group denied that its FCUK logo, which has recently been branded as tacky, was to blame.

French Connection said that this autumn's disappointing sales would lead to profits "considerably lower" than those predicted by city analysts, and 15 per cent lower than last year.