French Connection profit warning

The UK high-street retailer French Connection said today that it expected profits to be "significantly below expectations". The fashion chain said that its winter collection had failed to entice customers. Full year profits are anticipated to reveal a 15% decline as opposed to last year, after an 18% fall in like-for-like sales all over Europe in the third quarter.

The Group reported that it was unlikely that there would be any improvement in the situation during the rest of the season. French Connection told Ireland Online that it was taking steps to strengthen the spring line, which is expected to hit stores in late January 2005.