Positive signs for French Connection
French Connection says it has made "significant steps" in returning to profit after strong wholesale operations helped half-year losses shrink by nearly 30%.
The company reported pre-tax losses of £5.7m for the six months to July 31, compared with a loss of £7.9m a year earlier thanks to higher licensing revenues, a "reduced loss" in its retail division, and better performance from its wholesale business.
The retailer said those improvements were achieved during a "traditionally low point in the year" for profitability and despite challenging conditions. "We have definitely seen momentum build in the first half of the new financial year with improvements across all the divisions despite difficult trading conditions," chairman and chief executive Stephen Marks said.