24th Apr 2015 07:06
LONDON (Alliance News) - French Connection Group PLC on Friday said it expects to miss its expectations for the first half and to miss market expectations for the full year after weak trading in its retail arm in the first quarter so far.
French Connection said it expects its trading performance in the first half to the end of July to be materially lower than expected, owing to continued challenges in its retail division. It also expects its full-year results to miss market expectations as a result of the problems in the first half.
The group added it intends to close seven stores in the current year to the end of January 2016.
The group said its wholesale performance is in line with expectations, with forward orders higher year-on-year, while its licensing is also performing well.
By Sam Unsted; [email protected]; @SamUAtAlliance
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