French Connection to Shutter Stores

After reporting like-for-like sales at its U.K. and European stores, slipping three percent in the year to the end of January, French Connection (London) plans to close three or four stores, according to Business Quarter.

Shares in French Connection dropped as much as 16 percent and closed at 11 percent on Tuesday after the fashion retailer warned that trading remained “challenging,” reports The Guardian.

“Although we are encouraged by forward orders in our wholesale business, trading on the high street remains challenging and we are planning accordingly,” said Stephen Marks, chair of French Connection.