shopping

Losses mount at French Connection, supermarket shopping boosts Tesco shares and Rolls-Royce falls

French Connection shop in Covent Garden. (Credit: Dave Rushen/SOPA Images/LightRocket via Getty Images)
French Connection shop in Covent Garden. Photo: Dave Rushen/SOPA Images/LightRocket via Getty Images

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Losses mount at French Connection

Fashion chain French Connection (FCCN.L) saw a loss of £12.2m ($15.69m) in the six months to 31 July 2020, compared with a loss of £3.6m during the same period in 2019, according to a company statement released on Tuesday.

The COVID-19 pandemic led to a “significant decline” in sales, forcing the business to shut down its stores from the end of March to mid-June, in line with UK government guidelines, it said.

This caused store sales to slump 57% to £10.1m in the six months to the end of July, compared to £23.8m in the same period last year.

“The timing of the COVID-19 outbreak has had a material impact on our

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