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French Connection sales drop

by Purvai Dua
20th Sep 18 8:32 am

French Connection has announced a 7 per cent fall in like-for-like sales for the six months to 31 July. The group has also posted a 2.4 per cent decline in first-half revenue amid difficult trading in the UK market.

The high street fashion retailer expects to close 8 stores this year and is looking to renegotiate leases at other stores.

“Given the continued deterioration of trading conditions on the UK high street, we have reviewed the underlying lease contracts of a number of loss-making stores that we are actively looking to exit but are currently unable to and have made a one-off provision for the onerous nature of those contracts,” the company’s chairman Stephen Marks said.

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