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Sales up 9.1% at French Connection as turnaround continues

French Connection has reported a 9.1% increase in like-for-like sales for the 15 weeks to May 10, thanks to improved product and the cancellation of its mid-season Sale in April and early May.

Wholesale revenue was also up 8% year-on-year and the order book for autumn 14 is also ahead of 2013.

French Connection closed two non-contributing stores in the UK during the period and plans to close further non-contributing stores during the year.

The North American division is expected to trade below expectations for the rest of the year due to a “weakness in the apparel market” in the region.

Overheads are 2.5% lower year on year at the company, adjusting for store closures. Net cash for the group was down by £900,000 to £12.8m for the period.

Stephen Marks, chairman and chief executive said:  “I’m pleased to see continued momentum in our performance which demonstrates that we are on the right path.  We are also encouraged by the early response to our winter collection.”

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