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Catwalk stumble: French Connection falls to full-year loss

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French Connection has posted falling sales after a raft of store closures last year (Yui Mok/PA)

French Connection has posted falling sales after a raft of store closures last year (Yui Mok/PA)

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French Connection has posted falling sales after a raft of store closures last year (Yui Mok/PA)

Clothing retailer French Connection reported a full-year loss yesterday, citing difficult trading conditions on UK high streets, and said it would continue to hold back paying dividends this year.

The retailer, once known for its provocative FCUK brand of clothing and accessories, has struggled to differentiate itself from rivals such as Zara.

French Connection has also faced subdued consumer demand brought on by political uncertainty related to Britain's exit from the EU.

The retailer posted an underlying loss of £2.9m (€3.3m) for the year ended January 31, compared with a profit of £0.8m a year earlier. "Performance during the second half has been considerably worse than expected, particularly during the fourth quarter in the UK," CEO Stephen Marks said.

Reuters

Irish Independent