March 14 - British fashion retailer French Connection Group
Plc reported a full-year loss for the fifth straight
year as it struggles to compete with fast-fashion rivals such as
ASOS Plc, Forever 21 and Inditex's Zara.
French Connection said underlying operating loss narrowed to
3.7 million pounds ($4.5 million), for the year ended Jan. 31,
from 4.7 million pounds a year earlier.
French Connection, which has been under pressure from
activist investor Gatemore Capital Management to explore a sale,
replace board members and split the role of the CEO and
chairman, said revenue fell 6.7 percent to 153.2 million pounds.
Sales at stores open for more than a year in the UK and
Europe were up 4.4 percent. The two regions accounted for more
than three quarters of the company's revenue.
($1 = 0.8239 pounds)
(Reporting by Arathy S Nair and Rahul B in Bengaluru; Editing
by Amrutha Gayathri)