Sales down at French Connection
Cost-cutting measures reduced the pre-tax loss from GBP3.6 million to GBP2.5 million. Over the six month period, like-for-like sales in UK and European stores fell 1.6%, despite a 6% rise in like-for-like sales of womenswear. Chairman Stephen Marks said the company had "made progress over the last six months, with an improved financial performance and continued growth in French Connection ladieswear sales despite the widely-reported difficult trading environment in the UK". Into the second half of the financial year, womenswear trading remains strong, despite difficult trading conditions. Sales from menswear and its mail order business Toast are still causing an overall decline in like-for-like sales.