French Connection wary over trading prospects
12/11/2007 - 09:10:17Fashion group French Connection today warned profits may fall short of last year if trading conditions failed to improve in the UK.
The group revealed a 3% fall in third quarter like-for-like sales in its UK and European arm, despite growth in its ladieswear offering.
French Connection added it was cautious over trading for the remainder of the year and beginning of 2008, sending shares down by more than 5%.
The group said: “While we expect to report a profit for the year, our ability to achieve the same level of profit as last year depends on an improvement in the general retail environment in the UK over the next three months.”
