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Fashion apparel retailer French Connection reported wider first-half losses as revenue and margins fell owing to the impact of the COVID-19 pandemic.
For the six month period ending 31 July 2020, pre-tax losses widened to £13.2 million from £4.6 million as revenue fell 53.1% to £23.9m year-on-year.
Retail gross margins fell to 18.8% from 52.5%.
'Gross margins were impacted by both the loss of the full price selling period during the lockdown and higher levels of current and older stocks remaining at the period end,' the company said.
'Current trading [is] in line with our expectations,' the company said.
At 8:53am: (LON:FCCN) French Connection Group PLC share price was -1.45p at 7.5p