Figures looking up for French Connection with narrowed first-half loss
French Connection had reduced loss before tax of £6.1m, down from the 2012 figure of £6.3m, in its half-year report to the end of July. (Release)
The British retailer also highlighted its improved cash position of £22.3m, up from £21.2m in 2012, lack of debt and significant reduction in stock levels.
With reaction to its winter collection encouraging, Stephen Marks, chairman and CEO of French Connection, comments on the positive results:
We have continued to implement significant changes across the business and our new team has now been in place for almost a year. This has led to improved margins, ranges and retail disciplines across our UK business.
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.