DEATHWATCH: French Connection to fcuk off and die?
French Connection were once the market leader in annoying, puntacular clothing. However, it appears that this winter, the public opinion on the fashion outlet has cooled as the company announced that their UK stores have suffered an £8.2million loss.
Shares in the company were down 2.2 per cent following the news, leaving founder and chief executive Stephen Marks wringing his hands and describing conditions as the worst he has known.
He's noted that it has been increasingly difficult for FCUK (hovering around the British high street of 40-odd years, which is surprising) to maintain its full-price stance as it has done previously.
Higher cotton prices have also squeezed the margins, not helped by the fact that no-one wants to buy their clothes. The economic situation has hit all traders, but Marks admitted that the company's UK retail performance was 'very disappointing' in comparison with other businesses.
He added: 'We are very aware that there will be no quick solutions and that changes we make will take time to have an impact. We are working very hard on improving the performance of the retail stores, although clearly the state of the UK economy is not helping the position.'
Fcuking, sihtting hell, eh? Could this be the end for French Connection?
TOPICS: High Street News