January 31, 2020 / 7:35 AM / a month ago

French Connection drops plans to sell company as it focuses on turnaround

A person walks past a French Connection store in London, Britain, 14 March, 2016. REUTERS/Hannah McKay/File

(Reuters) - French Connection Group Plc (FCCN.L) said on Friday it had dropped plans to sell the company after completing a review and will now focus on a turnaround by growing its wholesale business in the United States and investing in its online platform.

The clothes and accessories retailer said it expects to report an annual pretax loss of between 1 million pounds ($1.31 million) and 2 million pounds, hurt by tough conditions on the UK High Street.

Reporting by Tanishaa Nadkar in Bengaluru; Editing by Shounak Dasgupta

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