French Connection encouraged by post-lockdown trading
By Sean Farrell
Date: Friday 11 Dec 2020
(Sharecast News) - French Connection said trading since the end of the second Covid-19 lockdown was encouraging and orders for spring 2021 were better than expectations.
After trading in line with expectations early in the second half tighter restrictions affected French Connection's retail operations in September before stores closed for four weeks, the company said in a trading update.
"Since the England and Wales stores and concessions reopened on Wednesday 2nd December trade has been encouraging," the company said.
Online channels continued to trade positively despite fewer price cuts and the wholesale business has performed well, French Connection said.
"Spring 21 orders are currently ahead of our expectations," the company said.
French Connection also said its US business had arranged $6.5m (£4.9m) of extra funding under the federal Main Street Lending Programme. The five-year loan with repayments starting at the end of the third year will provide working capital for the mainly wholesale business.
"There will continue to be considerable challenges, with both the ongoing impact of Covid-19 and the uncertainty relating to Brexit but we feel we are well positioned to capitalise on any opportunities that arise," French Connection said.
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10 Lower Thames St,
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