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UK retailer French Connection sales in the first half below pre-pandemic levels

Sales in the first half of the French Connection were well below pre-pandemic levels due to a decline in the retail portfolio and temporary closure of COVID-19 stores, but due to increased contributions to wholesale and e-commerce. It was offset. Global UK fashion clothing and household goods retailers reported total sales fell 21.2% to £ 40.2 million in the first half of 2007.

Sales in the first half of the French Connection were well below pre-pandemic levels due to a decline in the retail portfolio and temporary closure of COVID-19 stores, but due to increased contributions to wholesale and e-commerce. It was offset. Global UK fashion clothing and household goods retailers reported total sales fell 21.2% to £ 40.2 million in 2019.

“We are pleased that the business improvements we saw at the beginning of the year continued throughout the first half of the year. Wholesale in both the UK and the US was strong, with good results during the summer season.” Steven Marks, Chairman and CEO of French Connection, Said in a press release.

Sales in the first half of the French Connection were well below pre-pandemic levels due to a decline in the retail portfolio and temporary closure of COVID-19 stores, but due to increased contributions to wholesale and e-commerce. It was offset. Global UK fashion clothing and household goods retailers reported total sales fell 21.2% to £ 40.2 million in 2019.

Group operating expenses recorded a loss of £ 15.2m in the six months ending July 31, 2021, compared to a loss of £ 27.3m in 2019. In addition, the underlying operating loss fell to £ 0.9m (1st half of 2007: £ 3.6m).

Sales in the first half of the French Connection were well below pre-pandemic levels due to a decline in the retail portfolio and temporary closure of COVID-19 stores, but due to increased contributions to wholesale and e-commerce. It was offset. Global UK fashion clothing and household goods retailers reported total sales fell 21.2% to £ 40.2 million in 2019.

Earlier this month, MIP Holdings Ltd, a newly established entity directly owned and managed by Apinder Singh Ghura, Amarjit Singh Grewal and KJR Brothers Limited, signed an acquisition agreement with French Connection for £ 29m.

Sales in the first half of the French Connection were well below pre-pandemic levels due to a decline in the retail portfolio and temporary closure of COVID-19 stores, but due to increased contributions to wholesale and e-commerce. It was offset. Global UK fashion clothing and household goods retailers reported total sales fell 21.2% to £ 40.2 million in 2019.

“In the last five years, French Connection has made great strides in its plans to streamline the size of its store portfolio and bring the group back to profitability. The board said the proposal by MIP Holdings Ltd was fair and rational. We conclude and encourage all shareholders to accept it, “Marks said.

Fiber2Fashion News Desk (JL)



UK retailer French Connection sales in the first half below pre-pandemic levels

Source link UK retailer French Connection sales in the first half below pre-pandemic levels

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