The retailer reported that total and like-for-like sales at its UK and Europe retail business were “broadly flat” between February 1 and May 17.
French Connection said in a statement: “The retail fashion markets in the UK and US have been particularly difficult during the first weeks of the new financial year. However, the French Connection brand has performed well during this period, reflecting improvements made during the past year.”
French Connection ladieswear and Toast both “showed good growth”.
UK and European wholesale growth in deliveries of the spring/summer range at French Connection was “limited”, however, because of the tough retailing environment. Orders for autumn/winter are “broadly in line with last year”.
US retail like-for-likes were flat, but promotions hit margins and sales volumes fell because of the closure of three shops last year. North American wholesaling is “well ahead of last year”.
French Connection said: “The challenging economic conditions which are affecting the retail markets in the UK and US appear to be continuing and in particular affecting menswear.
“We therefore maintain our cautious outlook for the rest of the year, despite the encouraging performance of the French Connection ladieswear ranges.”
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