GENERAL MERCHANDISE NEWS
French Connection like-for-like sales down 2.9%
16 January, 2013 | by Retail Bulletin
High street fashion retailer French Connection said its sales had softened in the run-up to Christmas despite a good start to its Autumn/Winter season.
As a result, retail like-for-like sales in the UK and Europe during the 24 weeks to 12 January 2013 fell by 2.9%.
In the UK and Europe, the retailer delayed the start of its sale by a week in an attempt to build brand equity. It also implemented a similar delay in North America where trade was disrupted by Superstorm Sandy.
The group expects to report a loss before tax and exceptional items for the year ending 31 January 2013 in the region of £7.5 to £8 million. This compares to a profit of £5 million in the previous year.
Never Miss a Retail Update!French Connection will report full-year results on 13 March.
