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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  French Connection Group    FCCN   GB0033764746

FRENCH CONNECTION GROUP (FCCN)
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Delayed Quote. Delayed  - 09/20 10:42:49 am
46.8 GBp   -6.59%
09:06aFrench Connection's half-year loss narrows, but sales drop
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09/17FRENCH CONNECTI : half-yearly earnings release
05/23FRENCH CONNECTI : Results of AGM 2018 (pdf)
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Fashion chain French Connection says close to turning business around

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03/13/2018 | 10:53am CEST
A person walks past a French Connection store in London, Britain

(Reuters) - British fashion chain French Connection Group Plc (>> French Connection Group) said it was close to returning to profit and disclosed it had been approached by an unnamed U.S. group about a potential takeover although talks did not lead to an offer.

(Reuters) - British fashion chain French Connection Group Plc said it was close to returning to profit and disclosed it had been approached by an unnamed U.S. group about a potential takeover although talks did not lead to an offer.

Shares in French Connection, which operates 116 outlets in Europe and North America, rose as much as 18.7 percent to 40 pence in morning trading.

"Our goal has been to return the group to profitability and I believe we are very close to achieving that aim, given the momentum that we are currently seeing within the business," Chief Executive Stephen Marks said.

French Connection said negotiations about a potential offer for the group had gone on for a number of months last year before they broke off.

Company founder Marks is the largest shareholder in the company, with a stake of around 41 percent. Mike Ashley's Sports Direct International holds a 27 percent stake.

Activist investor Gatemore Capital last March urged the loss-making company to split itself or spin off its Toast brand, among other options.

Gatemore sold its entire stake in July, saying it was not satisfied with the pace of change at the retailer.

French Connection reported a 0.8 percent increase in like-for-like sales at its stores and said the retail market in Britain remained "particularly challenging".

French Connection has been struggling to fend off competition from fast-fashion rivals such as ASOS Plc, Forever 21 and Inditex's (>> Inditex SA) Zara. It has closed stores and hired new management and design teams as it tries to turn the corner.

It closed 11 outlets over the year.

"While it is clear that the retail market in which we are operating in the UK is unlikely to improve in the near future, we have clear visibility on the benefits we will obtain from the ongoing portfolio rationalisation," Marks added.

Underlying operating loss for the year ended Jan. 31 came in at 0.6 million pounds ($833,400), compared with a loss of 3.7 million pounds in the prior year.

Revenue rose 0.5 percent to 154 million pounds.

($1 = 0.7199 pounds)

(Reporting by Radhika Rukmangadhan in Bengaluru; Editing by Saumyadeb Chakrabarty and Keith Weir)

By Radhika Rukmangadhan

Stocks mentioned in the article
ChangeLast1st jan.
ASOS PLC -0.69% 5774.1201 Delayed Quote.-13.39%
FRENCH CONNECTION GROUP -6.59% 46.8 Delayed Quote.41.13%
INDITEX - INDUSTRIA DE DISEÑO TEXTIL 0.34% 26.26 End-of-day quote.-9.59%
SPORTS DIRECT INTERNATIONAL 0.50% 341.3 Delayed Quote.-9.92%
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Latest news on FRENCH CONNECTION GROUP
09:06aFrench Connection's half-year loss narrows, but sales drop
RE
09/17FRENCH CONNECTION GROUP : half-yearly earnings release
05/23FRENCH CONNECTION : Results of AGM 2018 (pdf)
PU
05/03FRENCH CONNECTION : Notification of Major Holdings (pdf)
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04/30FRENCH CONNECTION : Completion of the Sale of Toast (pdf)
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04/26FRENCH CONNECTION : Result of General Meeting (pdf)
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04/10FRENCH CONNECTION : Posting of Circular (pdf)
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04/09French Connection to sell Toast stake; may restart dividend
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03/13Fashion chain French Connection says close to turning business around
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03/08FRENCH CONNECTION GROUP : annual earnings release
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Financials (GBP)
Sales 2019 133 M
EBIT 2019 -
Net income 2019 -
Debt 2019 -
Yield 2019 -
P/E ratio 2019 -
P/E ratio 2020
Capi. / Sales 2019 0,36x
Capi. / Sales 2020 0,36x
Capitalization 48,3 M
Chart FRENCH CONNECTION GROUP
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French Connection Group Technical Analysis Chart | MarketScreener
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Technical analysis trends FRENCH CONNECTION GROUP
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 2
Average target price 0,62  GBP
Spread / Average Target 23%
EPS Revisions
Managers
NameTitle
Stephen A. Marks Chairman & Chief Executive Officer
Neil P. Williams Chief Operating Officer & Executive Director
Lee Williams CFO, Secretary & Executive Director
Sarah Curran Independent Non-Executive Director
Robin A. K. W. Piggott Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
FRENCH CONNECTION GROUP41.13%63
INDITEX - INDUSTRIA DE DISEÑO TEXTIL-9.59%95 554
KERING12.72%65 117
FAST RETAILING CO LTD23.37%55 007
ROSS STORES20.80%35 925
ZALANDO-16.85%12 272