In the year ended 31st January, apparel and accessories retailer
French Connection Group saw sales rise 5 per cent
to £215.4 million but pretax profit decline by 31.5 per cent
to £5 million from £7.3 million in 2011. Overall,
losses widened at the UK and European retail business from
£1.6 million in 2011 to £8.2 million this year. In
light of the results, due to a disappointing performance by
French Connection’s UK retail division, the company has announced
it is carrying out a review of its operations that could see it
close some stores when their leases expire this year. The review
will also see French Connection embark on new projects including
the introduction of a premium womenswear range for the Spring
season and the launch of a selection of homewares within its
larger stores and online. It also plans to ramp up its presence
overseas and open new stores in China, Hong Kong and India.
In related news, French Connection-owned mail order catalogue
Toast increased revenues
“profitably” in the year ended 31st January 2012.
Toast achieved growth in like-for-like sales during the year and
continued to grow its niche customer base. To further drive the
success of the company, French Connection is looking to recruit
senior managers to support Toast’s current management team.
Digital analytics agency Logan Tod & Co has
joined PwC to spearhead the company’s consulting division. Logan
Tod & Co’s chief executive Matthew Tod becomes a partner at
PwC.
Share