Underlying like-for-like sales in the UK/Europe at French Connection Group rose 9.1 per cent on year for the 15 weeks to May 10th, aided by new product ranges and a cut in discounting.
The London-based fashion retailer, which has been trying to turn itself around after three profit warnings in two years, said order book for the autumn/winter 2014 collection has risen over the comparable year-ago period.
French Connection, which has about 131 outlets in the UK and Europe, closed two non-contributing stores during the period.
The company, best known for its FCUK brand of clothes and accessories, said it expects sales in North America to be below expectations for the remainder of the year due to continued weakness in the apparel market.
French Connection last year said it would cut inventory levels, redesign product ranges and make its buying teams more flexible and review pricing as well in a bid to restore the fortunes of its retail division.
Besides the French Connection brand - which brings in nearly 90 per cent of its revenue - the company operates wholesale-only ladies-wear range Great Plains, e-commerce fashion and homewares brand Toast and men’s and women’s wear brand YMC.
Shares in the company were trading down 11 pct at 76.75 pence on the London Stock Exchange. (Reuters)
