
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.
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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.
Sports Direct said late on Thursday that it has taken strategic stakes in US-based businesses Iconix and Finish Line as it seeks to "hopefully build a relationship and develop commercial partnerships".
The businesses that are turning into stock market darlings are increasingly those running pureplay e-tail operations and the latest one to hope it will be a stock exchange star is Sweden’s Boozt.
The UK group has become the fifth largest shareholder for the US sport retailer, adding Finish Line to the sport and fashion brands already in its portfolio.
French Connection may be struggling but its Toast brand appears to be doing well on the back of a brand repositioning driven by CEO Suzie de Rohan Willner.
Mike Ashley’s interest in Debenhams is now heading towards 13.5% with news that the Sports Direct Group he controls has raised its interest in the retailer again. The move increased specualtion on his long-term plans.
The list of bidders for Jaeger has grown and it looks like Edinburgh Woollen Mill could be in the lead with sources saying its owner’s track record of succesful turnarounds gives it a strong chance of winning the prize.
French Connection had some good news on Tuesday. It may not have been enough, but it was something to cling to after five years of annual losses. Yet one investor called for the group to be broken up.