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French Connection sees improved performance

Monday, 30th November 2015
French Connection says sales of its winter 15 collection have continued to be strong during the 16 weeks to 21 November after the promising start to the season, highlighted at the time of the interim results announcement in September.

The LFL for UK/Europe retail for the period was 0.2% (2014: -6.1%) and within that the full price LFL remained around 6.0%. In addition the gross margin achieved during the period has increased over last year by 1.5% as the full price sales mix has increased, coupled with improved input margins.

All other areas of the business are also trading in line with expectations. Group cash, during a cyclical low period of the year, was £6.1m (2014: £7.6m).

A trading statement says: "As part of the continued development of the licensing business for the group we have ongoing discussions in a number of product categories and significantly have recently extended our very successful furniture licence with DFS for a further period of 5 years."

Chairman and chief executive Stephen Marks said: "I am pleased to report that the performance of the Group has improved considerably compared to the first half of the year, particularly in the UK/Europe retail stores and while we still have the all-important Christmas period to come, we expect the results for the full year to be in line with market expectations."




Story provided by StockMarketWire.com

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