French Connection’s interim results on Tuesday didn't make happy reading as the six months ending July 31 saw the majority of its trading period impacted by the pandemic and sales plunged, although e-tail was up.
French Connection’s annual results made bleak reading. The firm reported retail sales down and another big loss, as well as wholesale revenue falling. But at least its performance in North America seems to have improved.
French Connection’s half-year results showed it “building on good progress” and “on track to meet expectations”, but it's still loss-making. It also said its strategic review would be completed before 2020.
It was a mixed set of results for French connection on Tuesday as the struggling fashion retailer reported an underlying "return to profitability" but still a lot of work to do and key metrics remaining negative.
In a short statement on Monday, French Connection confirmed what had been rumoured for some time with the company saying that it’s looking at its strategy options and one of those could include a sale.
French Connection said it's making progress and will be profitable again by year-end. But in H1, sales fell and it remained loss-making, despite wholesale in the UK, Europe and US firing on all cylinders.