{"id":8462,"date":"2019-03-12T11:05:15","date_gmt":"2019-03-12T11:05:15","guid":{"rendered":"http:\/\/www.styledeals.co.uk\/blog\/french-connection-sales-fall-as-it-makes-small-profit\/"},"modified":"2019-03-12T11:05:15","modified_gmt":"2019-03-12T11:05:15","slug":"french-connection-sales-fall-as-it-makes-small-profit","status":"publish","type":"post","link":"https:\/\/www.styledeals.co.uk\/blog\/french-connection-sales-fall-as-it-makes-small-profit\/","title":{"rendered":"French Connection sales fall as it makes small profit"},"content":{"rendered":"\n
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Sales at struggling fashion chain French Connection fell last year, as a result of the “difficult” trading conditions in the UK.<\/p>\n

Like-for-like sales, fell by 6.8% compared with the previous year, with declines both in store and online. <\/p>\n

However, for the first time in seven years, the chain made a small profit of \u00a3100,000, against a loss of \u00a32.1m.<\/p>\n

The company said discussions were still “ongoing” with several potential buyers of the business.<\/p>\n

It said it expected its strategic review of the business, including the formal sale process, to be completed in the first half of 2019.) <\/p>\n

Sports Direct, which is controlled by Mike Ashley, has a 26% stake in French Connection. Founder Stephen Marks, who is also chairman and chief executive, still owns almost 40%.<\/p>\n

“While we still have a way to go to return the business to an appropriate level of profitability, I believe that we have made and continue to make significant progress,” Mr Marks said.<\/p>\n

He said the company’s performance had improved despite the “ongoing difficult retailing trading environment in the UK”.<\/p>\n