French Connection sales jump on new lines
Monday 14 April 2014
Struggling fashion group French Connection saw an 11 per cent rise in sales in the 11 weeks to April 12 as improved lines attracted more shoppers.
Shares in the fashion group, founded and run by Stephen Marks, rose 11% — up 7.5p to 74.5p — but this is still way off its all-time high, back in 2004, of 484.5p.
The group, modelled by Suki Waterhouse has been trying to turn itself around after three profit warnings in the space of two years. But it admitted that last year’s first half was weak so it was an easier comparison.
Last month, the group’s full-year results revealed annual losses had shrunk from £10.5 million to £6.1 million and it has been shutting shops to reduce costs.
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