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French Connection sees 'encouraging' performance since reopening; Spring 2021 orders ahead of expectations
StockMarketWire.com
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Clothing retailer French Connection said performance since reopening stores in December had been encouraging and spring orders for 2021 were ahead of expectations.
The company said that difficult conditions including reduced footfall as a result of the tiered C-19 restrictions seen in September were exacerbated by the national lockdown in November.
E-commerce channels continued to trade positively despite the company adopting a less promotional stance during the period than last year.
Wholesale performed well 'with our major online customers continuing to trade and take deliveries throughout the period. Spring 21 orders are currently ahead of our expectations,' the company said.
Its US business, based in New York, had secured US$6.5million of additional funding through the Main Street Lending Programme to support our US based operations and employees, the company said.
Looking forward, there would continue to be 'considerable challenges, with both the ongoing impact of COVID-19 and the uncertainty relating to Brexit but we feel we are well positioned to capitalise on any opportunities that arise,' it added.
At 9:00am: (LON:FCCN) French Connection Group PLC share price was 0p at 8.08p
Story provided by StockMarketWire.com
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