Sales fell to£236.1 million from£241.3 million the previous year.
Like-for-like sales for menswear dropped 11 per cent over the period and wholesale sales fell to£55.6 million from£63.4 million.
Chairman and chief executive Stephen Marks said the results were not as strong as the retailer would have liked because of the impact of "a marked softening of the retail environment in both the UK and US towards the end of the year".
French Connection added that it had addressed problems in menswear by appointing a new design and merchandising team, but that the changes would not become evident until spring next year.
Womenswear sales improved, with a like-for-like uplift of 2 per cent. Retail sales were flat at£115.6 million.
Marks added: "The results reflect some improvement in the performance of our French Connection ladieswear ranges, a robust performance at Toast in the face of difficulties earlier in the year, a significant improvement in the North America business and continued tight cost control.”
He said the continuing "difficult economic environment" in the new year is likely to affect the fashion retailer's rate of improvement in the retail business. But he added that it has seen an improvement in wholesale orders in Europe and North America for the first time in two years.
"The final outcome, however, will depend on the general retail environment in our markets," he said.
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