Sep 19, 2017

French Connection shrinks its losses

High street fashion retailer French Connection appears finally to be turning a corner. Set against a £7.9m loss in the same period last year, the retailer is hopeful that it is heading in the right direction. We have definitely seen momentum build in the first half of the new financial year with improvements across all the divisions despite difficult trading conditions. The retailer has slashed shop floor space by around 10 per cent from the same period last year - a process that has helped to drag down overall revenue, which fell by 7.5 per cent. Activist investor Gatemore Capital also called for the UK fashion group to be split after posting its fifth consecutive year of losses in March.

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