French Connection watches help firm record impressive profits

First published: 04-02-2011

Sales of French connection watches and some of its other goods have led to shares in the retailer soaring.

Profits are expected to be higher than previous expectations despite the current economic conditions, with pre-tax gains standing at around £6.8 million in the year to January 31st.

Earlier, the City said that profits would be between the £2.6 million and £5.1 million mark.

The firm stated that wholesale outlets and licensing has helped profits surge, while its own stores have performed in line with previous guidance.

Roy Naismith, finance director, said that its wholesale move was having a positive impact on the fashion house: "You are creating a very different environment to be shopping in. We're finding new customers and selling to more existing customers."

However, he warned that austerity cuts could also have an impact, stating that there is bound to be pressure on the consumer.

Recently, StyleBistro.com said that French Connection will be a one-stop shop for nearly every key fashion trend in 2011.

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