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Stocks in fashion retailer French Connection have soared

March 3rd, 2011 | admin

Shares in fashion retailer French Connection have soared after it said profits would be higher than expectations regardless of the tricky conditions on the high street.

The company said pre-tax profits would be least £6.8 million in the year to January 31, which was easily ahead of city forecasts. Previous expectations from French Connection were that profits would be between £2.6 million and £5.1 million.

The profits surge is due to wholesale outlets and licensing, while its own stores, which account for about 55 percent of money, have performed in line with previous forecasts in November, when sales were down by virtually 8%.

Shares have risen 22% as analysts upgraded their forecasts for this year and next.

View French Connection’s selection of Men’s Clothing online here.