French Connection faces toughest ever trading as losses spiral

French Connection

The fashion retailer recorded an underlying loss of £12.2m in the six months to July 31 compared with a loss of £3.6m during the same period the previous year, which it attributed to a “significant decline in sales”.

French Connection’s sales plummeted by more than half, down 53% year on year to £23.9m “predominantly owing to the impact of the Covid-19 pandemic”.

Retail revenue fell by 58% during the period to £10.1m as mandated store closures during lockdown were compounded by the permanent closure of nine of French Connection’s stores during the period, while wholesale revenue dropped 49% to £13.8m.

 

Already have an account?

Want to read more?

Register for LIMITED guest access

Register now

Get premium access

£5 A MONTH for 3 months

Subscribe now