French Connection narrows 1st-half loss, says winter range received well
ReutersLONDON--British fashion retailer French Connection said on Monday it had narrowed first-half losses and seen an encouraging customer response to recently launched winter collections.
September 17, 2013, 12:08 am TWN
The firm, which is attempting a turnaround after years of underperformance, made a loss before tax of 6.1 million pounds (US$9.7 million) in the six months to July 31, slightly better than the loss of 6.3 million pounds made in the same period last year.
Revenue was 89.9 million pounds, down 6.4 percent, reflecting a softening in French Connection's wholesale business and a reduction in the UK/Europe retail business. Gross margin was slightly down.
“We have recently launched the winter collections and the reaction has been encouraging although it is still early in the season,” said founder, chairman and chief executive Stephen Marks.