Oh FCUK: French Connection having a dreadful time
French Connection is having a bad time of it, mainly since everyone kinda forgot they were even a thing after the FCUK t-shirts stopped being fashionable. The company's value dropped 22% when trading kicked off today, after they issued a warning on sales.
The clothes vendor has been closing unprofitable stores and trying to shake-up their output for a while now, but at the moment, no-one cares. They think that full-year results will be below market estimates.
French Connection's retail sales account for roughly 60% of group revenue, and the company say that they were expecting them to be "materially" lower in the first half.
Like all struggling companies in the fashion sector, they're blaming 'an unusually warm Autumn'. Notice how all the companies that are doing fine managed to navigate their way through the Autumn by not solely relying on a load of drab woollen stuff?
The statement added: "We have been putting in place many improvements across the business in the last two years and will continue to implement positive change across the Group."
Don't be surprised if we see French Connection on a Deathwatch list before the year is out.