French Connection Shares Drop Sharply, Release Profit Warning

The performance of French Connection Group PLC was disappointing. He reduced the group's pre tax profit for the year ended January 31, 2016 to a loss of 3 million 500 thousand pounds from a profit of 500 thousand.

Britain

Retailer French Connection Group PLC (FCCN.L) recently released

He said that due to the difficult operating conditions of the last financial year, which still did not improve after Easter, it is now expected that the performance of the current 2015/16 fiscal year will not reach the level expected by the market.

French Connection Group PLC (FCCN.L) last Friday

The largest drop was 22.5%.

French Connection Group PLC expects retail sales in the first half of fiscal year to be significantly worse than in the same period last year, and retail business accounts for 60% of the group's total revenue.

Wholesale business, thanks to the year-on-year growth in orders, is expected to meet expectations.

Authorized business continues to perform strongly.

In the 2014/2015 fiscal year ending January 31, 2015, French Connection Group PLC revenue fell 5.8%, down from 189 million 400 thousand pounds in the previous year to 178 million 500 thousand pounds, and a 4.1% decline in fixed exchange rates, of which retail income fell 12.1% by wholesale stores, while wholesale income increased by 4.6%. The group's gross profit margin was 46.7%, down 90 basis points year-on-year.

The annual operating deficit narrowed to 800 thousand pounds in the previous year at 4 million 400 thousand.

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