Retail and wholesale weaken further
UK and Europe like-for-like retail sales are down 2 per cent at French Connection.

In a statement released today, the company said trading was below expectations. Winter 2006 orders at the UK and Europe wholesale business were down 12 per cent and in-season summer orders continue to be 'subdued'.

Wholesale orders in North America continue to increase, but retail sales for the season so far have been 'disappointing'.

Group chairman and chief executive Stephen Marks said: 'There is little indication at the moment that the market conditions or our trading performance will change. We are materially reducing our expectations for the full-year results.'

Seymour Pierce analyst Richard Ratner said: 'The AGM statement is effectively another profits warning from French Connection. We now look for£4 million against our previous£13 million and for£8.5 million the following year, down from£15.5 million.'

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