Inactive Instrument

FRENCH CONNECTION

Equities

FCCN

GB0033764746

French Connection : Trading Update (pdf)

November 30, 2015 at 04:49 am EST

d4c1b7fe-a8d3-43f9-be01-240518350402.pdf 30 November 2015

French Connection Group plc

Trading update

French Connection Group plc ('French Connection', 'the Group') today announces a trading update for the 16 week period ended 21st November 2015.

Trading performance

Sales of the French Connection Winter 15 collection have continued to be strong during the period after the promising start to the season, highlighted at the time of the interim results announcement in September. The LFL for UK/Europe retail for the period was 0.2% (2014: -6.1%) and within that the full price LFL remained around 6.0%. In addition the gross margin achieved during the period has increased over last year by 1.5% as the full price sales mix has increased, coupled with improved input margins.

All other areas of the business are also trading in line with expectations.

Group cash, during a cyclical low period of the year, was £6.1m (2014: £7.6m).

Licensing

As part of the continued development of the licensing business for the Group we have ongoing discussions in a number of product categories and significantly have recently extended our very successful furniture licence with DFS for a further period of 5 years.

Retail Store Portfolio

We continue to look for opportunities to rationalise our store portfolio and now expect to close a further 7 non- contributing stores during the second half of the year. Further, due to the redevelopment of the building, we will vacate our Regent Street, London store at the end of March 2016, at which time we will receive a compensation payment of £2.4million, while also removing the ongoing trading losses of the store.

Stephen Marks, Chairman and Chief Executive said:

'I am pleased to report that the performance of the Group has improved considerably compared to the first half of the year, particularly in the UK/Europe retail stores and while we still have the all-important Christmas period to come, we expect the results for the full year to be in line with market expectations.'

Enquiries:
Neil Williams	French Connection	+44(0)20 7036 7063
Tom Buchanan	Media Enquiries	+44(0)7974 982366

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Company Profile

French Connection Group PLC designs, produces and distributes branded fashion clothing and homeware men and women. The Company operates retail stores and concessions in the United Kingdom, Europe, the United States and Canada and also operates e-commerce businesses in each of those territories. Its principal brand is French Connection, which designs, produces and distributes branded fashion clothing, accessories, such as toiletries and fragrances, shoes, watches, jewelry, eyewear, furniture and homeware for men, women, and children through its distribution channels: retail stores, e-commerce, wholesale and licensing. Its other brands include, Great Plains and You Must Create (YMC). The Company operates in approximately 50 countries around the world. French Connection Limited, French Connection Ecommerce International Limited, French Connection UK Limited, French Connection (London) Limited, French Connection (Hong Kong) Limited and French Connection No 2 pour Hommes Sarl.

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