Share Name Share Symbol Market Type Share ISIN Share Description
French Connection Group Plc LSE:FCCN London Ordinary Share GB0033764746 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.50 1.39% 36.50 25,900 16:35:04
Bid Price Offer Price High Price Low Price Open Price
35.00 38.00 36.80 36.80 36.80
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Retailers 154.00 -2.30 -2.70 35
Last Trade Time Trade Type Trade Size Trade Price Currency
13:56:51 AT 12,411 36.80 GBX

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Date Time Title Posts
16/9/201916:10*** French Connection ***1,200
20/2/201715:45FCUK ME IM BUYING IT541
02/12/201511:58FCCN Delicious @23p-24p6
05/1/201508:52Could this company come back into fashion?2
18/9/201422:29FRENCH CONNECTION III137

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French Connection (FCCN) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2019-10-17 12:56:5136.8012,4114,567.25AT
2019-10-17 12:56:3636.8013,4894,963.95O
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French Connection (FCCN) Top Chat Posts

French Connection Daily Update: French Connection Group Plc is listed in the General Retailers sector of the London Stock Exchange with ticker FCCN. The last closing price for French Connection was 36p.
French Connection Group Plc has a 4 week average price of 30p and a 12 week average price of 30p.
The 1 year high share price is 64p while the 1 year low share price is currently 30p.
There are currently 96,612,934 shares in issue and the average daily traded volume is 32,620 shares. The market capitalisation of French Connection Group Plc is £35,263,720.91.
tiswas: Fingers crossed that there is finally a solution to what is going on here, dragged on for far too long. No premium on offer if share price is anything to go by, just hope they continue to turn it around.
kinwah: It was never going to be a quick deal for various reasons. I definitely think Marks is ready to sell but the retail background is awful. Mike Ashley speaks for all other shareholders when he says the process is taking too long.It will be done by the end of the year - just hope the price is a premium to the current share price.
lomcovaks: Joules, Paul covered the HoF situation in his daily small cap report of the 14th August. hxxps:// I know he occasionally reads these boards so I do hope that he won't mind my copy and pasting the relevant section here for the interest of members who may not subscribe to the Stockopedia article. It's free and a wonderful resource for investors:- French Connection (LON:FCCN) Share price: 48.1p (+0.4%) No. of shares: 96 million Market cap: £46 million A brief comment from me on the situation re French Connection (LON:FCCN) and its exposure to House of Fraser. This has been a known issue for some time, for people who understand the business. FCCN has concessions (a store within a store) in department stores, including House of Fraser. These are typically small operations, with minimal staff and little stock. The way concessions work is that all sales are "banked" through House of Fraser's EPoS system. HoF then sits on the money for, I am told, about 2.5 months. As HoF has been on the brink of going bust for some time, it was worth working out the potential liability to FCCN. Thankfully, a retail FD friend of mine worked out the figures some time ago. He reckoned there was a potential bad debt to FCCN of about £2m (probably less), if/when HoF went bust. Since HoF went into Administration, then that crystallises the loss for FCCN and other concessions. Mike Ashley would not be paying those debts as part of his acquisition, as pre-Administration trade payables are unsecured creditors, hence usually are paid nothing in this type of insolvency. How is the £2m estimated bad debt for FCCN worked out? Estimated 40 concession sites within HoF stores. Estimated annual turnover per concession of £200k Giving £8m estimated annual revenues for FCCN from its HoF concessions. Assume the bad debt is perhaps 3 months takings, arriving at an estimate of £2m bad debt for FCCN. That's not material, since FCCN has a market cap about £46m, and has substantial net cash - so it can afford to write off a £2m bad debt without any consequences. FCCN will also have to write-off fixtures & fittings related to its HoF concessions, or at least the ones that are to be closed. This again will not be material, and is non-cash, so not a problem. The inventories within HoF stores remain FCCN's property, and if necessary can be moved to other FCCN sites, so there should not be any write-offs relating to inventories. Going forwards, this might prove a nice opportunity for FCCN to accelerate the reduction of its heavily loss-making retail division. So I feel that, once the dust has settled, the market might actually see this as a positive. To reiterate, the sooner the FCCN retail stores are closed, the better, as they lose money hand over fist! The value in the business is the profitable wholesale & brand licensing divisions. It amazes me that this is so obvious, yet "the market" seems oblivious to it. There was a takeover approach last year, which must have been serious, since the board apparently spent several months assessing it & allowed the potential acquirer to do due diligence. It's only a matter of time before the business is sold, because the founder/chairman is into his 70's now, and must be looking for an eventual exit (otherwise he wouldn't have engaged with the potential acquirer last year). I've worked out that FCCN has several stores which are literally black holes for cash, in terms of losses. The leases on these should soon expire. That means that profitability should make a step change upwards. That's what's interesting about this cash-rich company. The brand is still very valuable, and I'm hoping for an eventual payout here of 100-200p, on a trade sale. This special situation is certainly one for patient investors only! I'll be insufferable when the payday does finally come, lol! The recent share price softness, presumably on worries over HoF, looks overdone to me, so if it goes much lower, I'll be topping up. But it's already one of my biggest long positions, so maybe it's not wise to tie up too much cash in this one? I imagine there is likely to be an RNS from FCCN very soon, detailing the cash losses due to HoF insolvency. It should also give us some detail on the non-cash write-offs (e.g. F&F), plus an update on what's happening going forwards. I imagine this is likely to say that some HoF concessions will continue, but some will be closed. They'll obviously only keep the profitable ones, and this is a nice opportunity for FCCN to re-negotiate terms with Mike Ashley, on a take it or leave it basis (giving him a taste of his own medicine!). Therefore FCCN should emerge with a more profitable concessions operation after this process has been completed. Hence I'm rather looking at this as glass half full, rather than glass half empty.
clarea: Hi anyone any views on recent share price weakness, I can't find any gossip or rns to give an idea. The only thing I can think of is the fallout from House of Fraser being the latest retailer to be on the skids has had a knock on effect. Any others views/thoughts welcomed.
jaykaytee: Interesting that the share price by over 10% yesterday...just a day before these positive results were released. Maybe the FCA should be looking in to these purchases. Insider trading?
smicker: Womenswear up 5% in the John Lewis results released today. Not sure just how relevant but not bad news anyway given recent share price weakness here
walbrock82: The cash position was a bit surprising and helped buffer the share price. I don't know why FCCN release like-for-like sales growth figure when the business is shrinking the retail division. Also, it reports underlying losses of £10m. For me, the big improvement is operating cash loss shrink from £7m to £1m.
she-ra: I imagine Ashley will be selling some today to prevent the share price rising. I presume he will not want the share price going up much.
srpactive: The last time we had talk of a revolt the share price rose swiftly higher, I am expecting the same here but no retrace just a surge towards 50p. The first revolt and failure can be accepted, but if you do it twice, you either win or look a complete fool, this is where we are now. dyor regards active
multiplural: I like reading Gatemore's letter copied in the article in the Guardian. Especially this: Deep Value. At last week’s closing price of 34.5p, French Connection shares trade at a current EV/Sales of 0.1 and a Price/Book of 0.6 (source: Bloomberg). By comparison, the FTSE 350 General Retailers Index, which averages only 4.7% operating margins, trades at EV/Sales of 0.8 and Price/Book of 2.1 (source: Bloomberg). If French Connection is able to bring its profit margins towards sector norms for 2017-18, then we believe a 150p share price should be achievable by the end of 2017. In 2014 when investors believed FC would be above break-even for the year, the Company’s share price rose above 90p. This demonstrates how quickly investors can respond to positive developments.
French Connection share price data is direct from the London Stock Exchange
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