French Connection no longer up for sale

31st Jan 2020 10:50

(Sharecast News) - Fashion retailer French Connection said on Friday that it was no longer up for sale and would instead focus on completing its turnaround.


Having completed its strategic review, the company said it would engage in further right sizing of the store portfolio while renegotiating the cost base of the ongoing stores. In addition, there will be increased investment in the online platform to enhance the customer experience and improve conversion, along with further spending spend on marketing to drive traffic.

Ahead of its preliminary results for the year ending 31 January 2020 in March, the retailer pointed to ongoing challenging trading conditions on the UK High Street and said it expects to report a loss before tax of between £1m and £2m.

"UK trading in both the retail and wholesale businesses has been more difficult during the second half of the year, especially during the fourth quarter," it said.

French Connection announced in October 2018 that it was considering putting itself up for sale.