×
67 642
Fashion Jobs
OLD NAVY
Assistant General Manager - Sugarloaf Mills
Permanent · Lawrenceville
OLD NAVY
Assistant Manager, Customer Operations - Sugarloaf Mills
Permanent · Lawrenceville
OLD NAVY
Assistant General Manager, Customer Operations - Christiana Towne Ctr
Permanent · Christiana
OLD NAVY
Assistant Manager, Customer Operations - Summit Woods Cross
Permanent · Lee's Summit
MACY'S
Manager, Omni Operations
Permanent · New York
ROSS STORES
Store Protection Specialist
Permanent · Tucson
ROSS STORES
Store Protection Specialist
Permanent · Houston
ROSS STORES
Store Protection Specialist
Permanent · Orlando
ROSS STORES
Store Protection Specialist
Permanent · The Woodlands
L BRANDS
Manager, Operations Planning
Permanent · Reynoldsburg
L BRANDS
Art Director - Digital
Permanent · Reynoldsburg
BLOOMINGDALE'S
Outlet Keyholder Selling, Full Time - Merrimack
Permanent · Merrimack
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time - Soho
Permanent · New York
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time - Chestnut Hill
Permanent · Newton
BLOOMINGDALE'S
Asset Protection Outlet Associate, Part Time - Dolphin Mall
Permanent · Miami
OLD NAVY
Assistant Manager, Customer Operations - Butler Plaza West
Permanent · Gainesville
MACY'S
Asset Protection Detective, Southshore - Part Time
Permanent · Bay Shore
MACY'S
Asset Protection Detective, st Clair Square - Full Time
Permanent · Fairview Heights
MACY'S
Asset Protection Detective, Parkchester - Part Time
Permanent · Bronx
MACY'S
Asset Protection Detective, Parkchester - Full Time
Permanent · Bronx
MACY'S
Asset Protection Detective, Aventura - Full Time
Permanent · Aventura
MACY'S
Asset Protection Detective, Fairfield Solano - Part Time
Permanent · Fairfield
By
Reuters
Published
Sep 21, 2015
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

French Connection loss grows as spring collection fails to excite

By
Reuters
Published
Sep 21, 2015

UK fashion retailer French Connection Group Plc, in the midst of a multi-year turnaround programme, reported a bigger loss for the first half on Monday after its spring collection failed to win favour with shoppers, sending its shares reeling.

The 43-year-old company said it shut six underperforming stores in the period, and planned to close more in its effort to cut costs. French Connection had 394 retail outlets, including franchised and licensed stores, as of July 31.

French Connection


Analysts said the upmarket retailer needed to do a lot more than it announced in its 2012 restructuring program if it was to get back on track.

"There is nothing in the statement to say there is any urgency to change strategy," Cantor Fitzgerald analyst Freddie George, who expects the company to remain unprofitable for the next two years, wrote in a research note.

French Connection has not reported an annual pre-tax profit since the year ending Jan. 31, 2012.

George cut his target price to 30 pence from 45. French Connection shares were down 8 percent at 26.50 pence at 1133 GMT. Up to Friday's close, the stock had fallen 57 percent.

French Connection said trading had improved in the first six weeks of the second half, which started on Aug. 1, with like-for-like sales in its full-price UK retail business up about 6 percent.

The company reported a first-half pretax loss of 7.9 million pounds ($12.3 million), up from 3.9 million pounds in the same period last year. Revenue fell 9.8 percent to 75.8 million pounds.

Besides the French Connection brand, which generates nearly 90 percent of revenue, the company owns the wholesale-only Great Plains ladies wear range. Its other brands are Toast, available online and in some stores, and YMC, sold wholesale and in London.

© Thomson Reuters 2022 All rights reserved.