French Connection Group PLC (LON:FCCN – Get Rating) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 29.55 ($0.37) and traded as high as GBX 29.80 ($0.37). French Connection Group shares last traded at GBX 29.55 ($0.37), with a volume of 18,750 shares […]
French Connection Group PLC (LON:FCCN – Get Rating) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 29.55 ($0.36) and traded as high as GBX 29.80 ($0.37). French Connection Group shares last traded at GBX 29.55 ($0.36), with a volume of 18,750 shares […]
28 April 2021 | 09:46am
StockMarketWire.com - French Connection reported wider annual losses following pandemic-led store closures, but the apparel retailer touted signs of improvement following the reopening of stores.
For the financial year ended 31 January 2021, pre-tax losses widened to £19.7 million from £7.8 million as revenue fell 40.4% to £71.5 million.
Retail revenues slumped 51.8% to £22.5 million, owing to the store closures during the three national lockdowns and footfall impacted by restrictions at other times, the company said.
Wholesale revenues were down 33.1% to £49.0 million.
Gross margins fell to 22.4% from 30.2% impacted by both the loss of the full price selling periods during national lockdowns and higher levels of residual stock at the period end.