French Connection remains bullish

French Connection yesterday said its recovery plan remained on track despite a recent slide in sales on the high street.

The clothing retailer said like-for-like sales in its UK and Europe stores, which account for 55 per cent of revenues, declined by 6.1 per cent on a year earlier in the past 15 weeks, with total sales in the stores down 7.7 per cent.

In the first half of the year like-for-like sales were 3 per cent higher but French Connection said weakening sales trends in womenswear impacted on its performance.

The group posted pre-tax losses of 24.9 million in the year to 31 January but has pinned its turnaround hopes on a restructuring that has already involved the sale of the loss-making Nicole Farhi brand and the closure of its Japanese business and some stores in North America and Europe.