French Connection is still lossmaking and margins are down but there's news to be cheerful about too as its new concept store outperforms, wholesale turnover rises, e-tail makes up a third of sales and m-commerce surges.
French Connection had some good news on Tuesday with an improving performance and Veryexclusive's Sarah Curran joining the board. But its turnaround is still far from certain as losses continue and sales are still down.
Sports Direct now owns 27% of beleaguered fashion retailer French Connection with the stake making it the second largest shareholder in the firm and just 3% below the threshold at which it must launch a takeover bid.
Investors in struggling French Connection are voicing fresh criticism of its boss Stephen Marks. Their complaints come after the board confirmed him in his dual CEO/chairman’s role on a show of hands at last week’s AGM.
French Connection shareholder Gatemore Capital said it fears the struggling retailer could run out of cash this year and is in need of a shake-up at boardroom level or should be sold, according to reports.
French Connection Group Plc founder Stephen Marks has dismissed a newspaper report of possible bid interest in the fashion retailer, saying there was nothing behind the article which sent its shares up more than 20 pe...