Fashion retailer French Connection Group has reported a smaller loss, helped by an improvement in its wholesale division and higher global licencing income.
The company reported an underlying operating loss of £800,000for the year ended January 31, compared with the loss of £4.4 million a year earlier. Revenue fell 5.8 per cent to £178.5m.
British retailers had a tough second half partly due to a mild autumn that hit sales of winter fashions. Muted wage growth has also forced consumers to keep spending under control.
The London-based company, which has been attempting a turnaround after years of underperformance, is trying to win customers by redesigning product ranges and closing unprofitable stores.
The company, which operates retail and wholesale businesses in the UK, Europe, United States, Canada, Hong Kong and China, closed nine stores during the year.
French Connection said wholesale revenue - selling its products to retailers in 60 countries around the world - rose by 4.6 per cent to £75.2m pounds. Wholesale segment accounts for about 40 per cent of the company's sales.
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