Tuesday 19 March 2019

Sales slump: Stores face axe as French Connection hit by poor profits

Sign of the times: French Connection was hit by a dip in sales in store and online
Sign of the times: French Connection was hit by a dip in sales in store and online

Maryam Cockar

FRENCH CONNECTION returned to a modest annual profit in 2018, but sales continued to fall due to "difficult" trading conditions. The retailer made an underlying operating profit of just £100,000 (€88,000) compared with a £2.1m (€1.8m) loss a year earlier.

But like-for-like sales fell 6.8pc with weaker sales online and in store, while revenue rose 0.2pc to £135.3m. Retail sales declined by 11pc to £58.4m but wholesale revenue increased 10pc to £76.9m.

It is set to close more loss-making outlets this year.

PA

Irish Independent

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