French Connection profits dropped 22.5 per cent to £3.1 million for the year to January 31. Sales fell to £236.1 million.

The decline was led by an 11 per cent slide in menswear like-for-likes. Womenswear delivered a rise of 2 per cent. Retail sales remained flat at£115.6 million.

Chairman and chief executive Stephen Marks said the results were affected by the softening retail environment.

He will focus on restructuring the menswear management team and said resultant product changes will filter through by spring next year.

The retailer did not provide current trading figures, but Marks said the “difficult economic environment… is likely to have an impact on the rate of improvement in the retail business”.

Panmure Gordon analyst Philip Dorgan said Marks’ observation “looks like a profit warning”.

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