French Connection H1 sales plunge, loss widens

For the six months, French Connection Group Plc reported revenue of 23.9 million pounds, 53.1 percent or 53.2 percent at constant currency lower than the previous period. In a preliminary results statement, the company said, retail revenue declined by 57.6 percent or 57.6 percent at constant currency to 10.1 million pounds with both UK/Europe and North America sales significantly impacted by Covid-19 store lockdowns during the majority of H1. Wholesale revenue reduced by 49.3 percent or 49.4 percent at constant currency to 13.8 million pounds. Retail gross margin was 18.8 percent compared to 52.5 percent last year, while underlying retail loss in the six months increased to 7.5 million pounds compared to 5.2 million pounds in 2019.