Profit back at ailing French Connection

first_img KCS-content Profit back at ailing French Connection whatsapp FRENCH Connection bounced back into profit yesterday after cost-cutting measures were taken to breathe new life into the business. The group saw a slim half-year profit of £200,000 compared with losses of £5.4m over the same period last year. French Connection is closing loss-making stores in the US alongside the closure of its Japanese business and some European retail outlets to get the business back in line.The company has also offloaded its loss-making Nicole Farhi brand.Turnover rose by four per cent to £96.2m in the six months to July.French Connection shares jumped seven per cent to 47p after the improved figures were announced.Founder Stephen Marks has said the fashion brand, which was a hit until its FCUK brand lost its appeal, appeared to be “back on track”. Turnover rose four per cent to £96m including a three per cent rise in like-for-like sales in Britain and Europe, driven by growth in menswear and e-commerce.“The like-for-like sales performance in our retail stores in the early weeks of the new season has shown a decline making us more cautious about our outlook for the second half,” the retailer said.It added: “However our wholesale forward orders are ahead of this time last year and we expect to be able to maintain the stronger gross margins achieved recently.” Wednesday 15 September 2010 8:26 pm Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof whatsapp Show Comments ▼ Share Tags: NULLlast_img

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