{"id":163667,"date":"2020-12-11T10:40:25","date_gmt":"2020-12-11T10:40:25","guid":{"rendered":"https:\/\/www.theindustry.fashion\/french-connection-hails-encouraging-post-lockdown-sales\/"},"modified":"2021-08-06T12:09:30","modified_gmt":"2021-08-06T12:09:30","slug":"french-connection-hails-encouraging-post-lockdown-sales","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/french-connection-hails-encouraging-post-lockdown-sales\/","title":{"rendered":"French Connection hails \"encouraging\" post-lockdown sales"},"content":{"rendered":"<p>French Connection has been boosted by \u201cencouraging\u201d trading since stores in England and Wales reopened following the latest lockdown, as it <strong>secured more funding for its US arm.<\/strong><\/p>\n<p><!--more--><\/p>\n<p>The fashion retailer saw shares jump after it told investors that <strong>forward orders for spring 2021 are currently ahead of expectations.<\/strong><\/p>\n<p>French Connection reported that<strong> trading was in line with company forecasts<\/strong> over the start of the second half of 2020.<\/p>\n<p>However, it said the tightening of pandemic restrictions and guidance from September drove a slump in footfall as<strong> conditions \u201cbecame slightly more difficult across the retail channels\u201d.<\/strong><\/p>\n<p>This was compounded further by the second national lockdown in England last month, but the company had been <strong>boosted by positive pre-Christmas sales since reopening stores.<\/strong><\/p>\n<p>The group added that <strong>online sales have continued to \u201ctrade positively\u201d<\/strong> despite a decrease in promotional activity compared with the same period last year.<\/p>\n<p>French Connection said it has now also secured $6.5m (\u00a34.9m) of funding to support its US operations and employees.<\/p>\n<p>It said it has<strong> received the money as a loan from Flushing Bank, New York,<\/strong> for a period of five years with repayments commencing from the end of the third year.<\/p>\n<p>The<strong> US arm is predominantly wholesale<\/strong> therefore requires a significant amount of working capital at certain times of the year to operate, it said.<\/p>\n<p>In a statement, the company said: \u201cLooking forward there will continue to be considerable challenges, with both the <strong>ongoing impact of Covid-19 and the uncertainty relating to Brexi<\/strong>t but we feel we are well positioned to capitalise on any opportunities that arise.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p> [&hellip;]<\/p>\n","protected":false},"author":68,"featured_media":141631,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[10585,6,10494],"tags":[10090,10686],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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