FCUK Sales Slump
French Connection have reported a dive in sales but their chairman, Stephen Marks, will still receive a £2 million payout. Known for their often controversial advertising campaigns, the french high street chain recorded a dramatic drop in sales from £12.6 million in 2005 to just £4 million in 2006.
But this doesn't appear to be affecting its chairman's bank account with Marks set to gain a huge bonus despite vowing not to sell his shares, worth more than 40%, before saving the company. "The financial results for the last year are very disappointing. However, we believe there is good evidence to indicate that we are at the start of a new phase in our business cycle," he said. A revamped product line and support from the fashion press are what Marks believe have helped to start the year in an "encouraging" way. In the US, the news is not much better with high prices and an inability to compete with more affordable chains being blamed for a plummet in sales. Oh dear!
Related: French Connection's Got Street Smarts | Casual Chic With FCUK's Butterfly Blouse
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I am not surprised... I used to love FCUK but this past year everything they have brought out (at least the pieces that make it here to the netherlands) have been shapeless sacks! Gone are the days when I could trust French Connection to get cute feminine skirts from...
Posted by: Divina | March 16, 2007 8:21 AM