03-18-2009, 01:09 PM
There seems to be virtual unanimity among the analyst community following figures from retailer French Connection - sell the shares.
The company axed its final dividend and said it made a full year loss of £5.5m. This was above most forecasts, and compares to a profit of £3.1m this time last year. Chairman Stephen Marks said the results reflected the global economic downturn, particularly in the US. But there is no doubt the appeal of the company's FCUK brand has faded somewhat. It looking at cutting costs and closing stores to cope with "another difficult year."
Guardian.co.uk
The company axed its final dividend and said it made a full year loss of £5.5m. This was above most forecasts, and compares to a profit of £3.1m this time last year. Chairman Stephen Marks said the results reflected the global economic downturn, particularly in the US. But there is no doubt the appeal of the company's FCUK brand has faded somewhat. It looking at cutting costs and closing stores to cope with "another difficult year."
Guardian.co.uk