French Connection expects the number of stores it closes in the UK and Europe to increase over the coming months.
In its results for the six months to the end of July, the fashion retailer said that it had closed four stores at a cost of £400,000 during the period.
“We continue to target the closure of non-contributing stores and expect more to close in the second half,” the company said.
French Connection posted revenue of £23.9m for the six months, down by more than a half year-on-year, with its loss more than trebling to £12.2m.
Chairman Stephen Marks descried the results as “considerably worse than last year”, but added: “Despite the unprecedented difficulties we continue to face alongside the rest of the high street, having been able to secure the necessary financing we feel that we are well positioned to navigate an extended period of uncertain consumer demand but also ready to capitalise on any opportunities that may arise.”
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