Fashion retailer French Connection has seen an 8 per cent rise in sales in the UK and Europe between 1 February and 16 May, compared to the same period last year. But sales in North America are down.
The European sales represent a 2 per cent like-for-like increase in a region that accounts for 53 per cent of group turnover.
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The North American market, accounting for 16 per cent of turnover, saw sales volumes fall by 6 per cent, partly because of a 3 per cent reduction in trading space, according to the retailer’s interim statement. Like-for-like sales were down by 2 per cent, with margins eroded by promotions during the winter sales.
The company is maintaining a strong balance sheet, with £20m in cash at the end of April.