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French Connection's pre-tax losses narrow

French Connection has narrowed its losses during the last few months of its financial year with both retail and wholesale revenues rising.

The retailer said it was expecting pre-tax losses are expected to be around £4.7m for the full year, down from a £7.2m loss last year.

French Connection said it had been bolstered by “better than expected” UK and Europe sales during December and January, while the UK wholesale forward order book had been “strong”, with shipments ahead of last year.

The update was released ahead of French Connection announcing its preliminary results for the year to January 31, 2014 next month.

In September the group revealed it had slimmed down pre-tax losses in its first half, with its UK retail arm making progress in its turnaround programme. In the six months to July 31 the high street retailer narrowed pre-tax losses to £6.1m from £6.3m compared with the same period in 2012.

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