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French Connection sees signs of improvement following reopening after annual losses widen | 28 April 2021

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. ....

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Investegate |French Connection Announcements | French Connection: Statement Regarding Share Price Movement

Notice related to financial advisers
WH Ireland Limited, which is authorised and regulated by the Financial Conduct Authority in the United Kingdom, is acting exclusively for the Company and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than the Company for providing the protections afforded to its clients or for providing advice in connection with the subject matter of this announcement.
Disclosure requirements of the Takeover Code
Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any securities exchange offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any securities exchange of ....

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