 French Connection says the UK High Street is a tough place |
Shares in French Connection have fallen by almost 5% after the UK fashion retailer warned its earnings would fall bellow market expectations. French Connection said it expected its full-year profits to be between �11m and �14m (($19.2m-$24.4m), compared with a previous forecast of �20m.
The firm said its new-look ranges had failed to help it meet sales targets.
French Connection said earlier this year that it planned to scale back use of its controversial FCUK slogan.
Right clothes?
French Connection reported a 69% slump in half-year profits to �5.1m in September.
"We are experiencing very difficult trading conditions on the UK high street right now and shoppers continue to be cautious," said chairman Stephen Marks.
The company, once a high flyer among UK fashion retailers, has faced criticism recently from analysts who say its clothing ranges have become less popular with shoppers - although French Connection said trading had improved since September.
"We have seen a positive impact from range improvements this season, although clearly we have further to go and we will continue to maximise our opportunities going forward," Mr Marks said.
Separately, department store chain John Lewis bucked the pre-Christmas gloom surrounding some retailers after reporting a seventh week of sales increases, up 7.3% to �77.5m for the week to 3 December.
Stores in Bristol and Southampton performed particularly well, although sales at the company's flagship Oxford Street store in London slipped by 3.3%.
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We are experiencing very difficult trading conditions on the UK high street right now and shoppers continue to be cautious
