Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

French Connection confident on full-year forecasts

French Connection is confident it will hit its targets for the year following a good reaction to its autumn 11 ranges, a rise in wholesale volumes and an improvement in trading the lead up to Easter and the royal wedding.

Group revenue at the young fashion chain rose 3.6% year-on-year for the period from February 1 to May 14.

However, revenue in the UK and Europe retail division dropped by 1.8% on a like-for-like basis, with weak sales in the early part of the period in line with lacklustre trading from most of the high street.

However, the company said there had been “significant improvement” in trading since the start of the Easter holidays and the lead up to the royal wedding.

French Connection said that retail gross margins were also below the levels seen last year due to increased input costs but stressed that this had been forecast.

Although no figures for its wholesale division were released, the company said its global wholesale business had “performed strongly” with deliveries “well ahead” of last year.

Forward orders for autumn 11 are also ahead of those seen for autumn 10, partly thanks to the expansion of its international franchise network with recent store openings in Russia, Jordan and Turkey.

In a statement French Connection said: “Despite the strong growth achieved in the last few weeks, we remain cautious about the UK retail market in the remainder of the year. Nonetheless, we are pleased with the current trading which, together with the strength of our autumn/winter ranges and the good performance of our wholesale and licensing businesses, gives us confidence that we will achieve our objectives for the year.”

Contemporary womenswear retailer Toast, which is part of the French Connection group, also continued to perform well.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.