French Connection narrows half-year losses

Fashion retailer French Connection has reported lower losses for the first half of the year as store closures helped to overcome a drop in sales.

The chain closed four underperforming stores in the UK during the six months to 31 July and expects a further three to close in the second half of the year. The firm currently has 133 outlets across the UK and Europe.

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Although first-half revenues fell 6.4 per cent to £89.9 million, chairman and chief executive Stephen Marks said lower overheads helped pre-tax losses narrow to £6.1m, from £6.3m a year ago.

He added: “Although it is early days in our turnaround, the underlying strength of the business and the significant global awareness of the brand, coupled with the changes we are making, provide the foundations for continued improvement and give me confidence for the future.”