Retail in Asia

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French Connection to review retail after profits slide

For the year to 31 January profit before tax dropped to GBP5million (USD7.86m) from GBP7.3m the year before. Revenues rose 5 percent from GBP205m to GBP215.4m.

The UK/Europe wholesale division saw solid growth achieving a 17 percent increase in revenue for the year. Brand licensing income also grew strongly, increasing by 47 percent to GBP8.5m from GBP5.8m last year.  

However overall the UK/Europe retail business generated a loss of GBP8.2m compared with a loss of GBP1.6m in the previous year. Total retail revenue in the UK/Europe division was largely flat on last year with a 4.6 percent growth in the first half and a decline in the second half. Womenswear and menswear sales were similar with the ecommerce channel performing in line with the retail stores.

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(Source: Drapers)