Posts in LSE:FCCN

Next shares are a 'tough hold'

Next shares are a 'tough hold'

If Next's retail business recovers its shares are currently good value, argues companies analyst Richard Beddard. But there's a problem.

Broker Forecast - Cantor Fitzgerald issues a broker note on French Connection Group PLC

Cantor Fitzgerald today reaffirms its hold investment rating on French Connection Group PLC (LON:FCCN) and cut its price target to 40p (from 45p).

How French Connection shares could double

How French Connection shares could double

Yesterday, we reported on a catwalk up to 55p. Now, chartist Alistair Strang tells us what must happen for French Connection shares to go even further.

Sliding oil prices hit UK and US stocks

A fall in oil prices saw Royal Dutch Shell (RDSB) slide 1.8% lower.

Due to the substantial market cap of Shell, the FTSE 100 closed 0.1% lower at 7,357.

High street banks Royal Bank of Scotland (RBS) and Barclays (BARC) were also among the top blue-chip fallers.

West Texas Intermediate dropped 2.3% to $47.30 and Brent crude oil fell 1.7% to $50.45 per barrel, respectively.

Gold nudged higher to $1,205 per ounce and copper climbed 0.5% to $5,798 per tonne.

Can French Connection be worth 55% more?

Can French Connection be worth 55% more?

French Connection shares look unlikely to blossom any time soon, but Graeme Evans has found an optimistic expert with an eye for fashion.

Is this small-cap fashion stock a better buy than its FTSE 250 peers?

Investors have greeted full-year financials from retailer French Connection (LSE:FCCN) positively in Tuesday business, sending the stock 4% higher from last night's close.

At first glance the results are hardly reason for fanfare, however. It announced a fifth successive year of losses in the year to January 2017, with pre-tax losses rising to £5.3m last year from £3.5m previously.

Brexit fears weaken sterling

The Parliament approved the Brexit Bill, allowing Prime Minister Theresa May to trigger Article 50 and start negotiations for the UK to leave the European Union.

Coupled with Monday's call for a second Scottish independence referendum, the pound came under pressure against other major currencies.

Stock market investors were also pretty cautious, with the FTSE 100 remaining flat.

French Connection revenues fall

French Connection Group saw an improved trading performance in the year to the end of January despite revenues falling by 6.7% to £153.2m (2016: £164.2m).

The group said UK/Europe Retail like-for-like sales rose 4.4%, despite a challenging trading environment in H2.

Overall retail revenue was down 4.9% at £87.9m (2016: £92.4m) on an average space reduction of 11.7%.

Ecommerce sales grew by 12.7% and now represent 27.3% (2016: 23.0%) of retail revenue.

Other highlights:

- Continued portfolio management with nine non-contributing stores closed in the period

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French Connection non-exec to step down

French Connection Group has announced that Christos Angelides, who is currently a non-executive director of the Group, has informed the Board that he has accepted an executive role at a fashion retailer that is considered to be a direct competitor to French Connection.

As a result, the Board of French Connection and Mr Anglelides have agreed that he should relinquish his Board position at the Group on 28 February 2017.

The Company confirmed that a search for additional non-executive directors is currently underway.

At 2:06pm: (LON:FCCN) French Connection Group PLC share price was -0.5p a

Broker Forecast - Numis issues a broker note on French Connection Group PLC

Numis today upgrades its investment rating on French Connection Group PLC (LON:FCCN) to buy (from add) and set its price target at 55p.