Mar 14, 2017

Investor calls for break-up of French Connection

French Connection came under further pressure from activist investor Gatemore Capital on Tuesday as it called for the UK fashion group to be split after posting its fifth consecutive year of losses. In the year to January 31, pre-tax losses rose 51 per cent from £3.5m to £5.3m, as the company continued to wrestle with problems in its wholesale division and competition from online rivals. Operating losses narrowed 21 per cent to £3.7m. Like-for-like sales in the UK and Europe, which account for two-thirds of revenues, rose 4.4 per cent. Stephen Marks, founder, chairman and chief executive who owns 42 per cent of French Connection, described the results as "Disappointing" but said the company was "Moving in the right direction" after a "Noticeable improvement" in the second half and into the new financial year. In February Sports Direct, the UK retailer controlled by billionaire Mike Ashley, bought an 11.2 per cent stake in French Connection, making it the second-biggest shareholder.

Read the full story

 Related companies

Make a complaint about French Connection by viewing their customer service contacts.