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
  2.90 12.55% 26.00 132,560 09:38:22
Bid Price Offer Price High Price Low Price Open Price
25.90 27.20 26.00 24.30 24.30
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Retailers 71.50 -19.70 -20.40 25
Last Trade Time Trade Type Trade Size Trade Price Currency
09:38:07 O 4 26.70 GBX

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Date Time Title Posts
23/9/202109:25*** French Connection ***1,911
03/2/202019:59FCUK ME IM SELLING IT274
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

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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 23.10p.
French Connection Group Plc has a 4 week average price of 19.80p and a 12 week average price of 16.55p.
The 1 year high share price is 31.80p while the 1 year low share price is currently 4.60p.
There are currently 96,612,934 shares in issue and the average daily traded volume is 52,080 shares. The market capitalisation of French Connection Group Plc is £23,766,781.76.
rainmaker: "This is an excruciating long wait since the last update."Boonkoh,if you're not already familiar with it, welcome to wonderful world of Stockmarket Value Investing and all those personal qualities eg patience,discipline etc that your Primary School told you were important but you didn't understand why at the time but you do now! I calculate French Connection's intrinsic value to be substantially above current prices and IMHO we therefore have a huge margin of safety acting as a buffer or cushion to protect us. If you read the annual reports, you'll realise that the average retail shop lease has very little time left to run and that as leases expire, French Connection are ruthlessly negotiating sharply lower rents and more flexible terms or simply handing back the lease. Of course in the current, very testing high street retail climates with plenty of unoccupied retail outlets, the Landlords are only too willing to oblige. So I believe the days of massive loss making retail outlet division for French Connection are long gone. The other two divisions, the wholesale business which is particularly strong in North America and the licensing business are both excellent businesses. FC also have some £26mln of tax losses to utilise so forgetting the prospective bidders for a moment, if we have news of more favourable trading- which IMHO we should get and a retail division near break even then IMHO the share price can easily double from current levels. AIMHO, DYOR as I have done mine. regards and best wishes
cropperfbn: The longest take over due diligence I have ever seen. Seems to have stalled and unless something soon need to cash in. Too much risk of it coming to nothing and then having the price to rely on fundamentals.
boonkoh: Nothing I can see. But you never know with FCCN in play for a bid... Just some clumsy buying?
boonkoh: Potentially trading statement to come ned of this month.Retail sales May and June have been strong. Plus sales of dresses and socialwear particularly strong, which is a staple for FCCN.Sofa sales still strong via DFS.USA sales strong too.So can't see any major shocks to come in the first few months of trading.
rainmaker: For anyone holding or has an interest, fashion retailer, French Connection(FCCN), 18.70p/18.85p currently subject to bid interest from three separate parties are due a trading statement this month. Last years was on 24/7/2020. You would think that current trading would be good, April's retail sales were the best since August last year. A constant stream of selling from impatient holders has kept the share price under pressure. IMHO a bid was never going to come quickly, the CEO, founder and 41% shareholder apparently rejected a 42p a share last January and he obviously, and very reasonably wants a lot more. I calculate French Connection's intrinsic value to be circa 120p a share(its not that difficult to work out) and of course no one will pay anything like that in the current economic climate and with FC's current trading performance unless someone makes a move and they go into play. FC have a valuable brand and IMHO is worth a great deal more than the current share price-just ask DFS. AIMHO, DYOR as I have done mine. regards
boonkoh: DFS trading update today: "In a trading update on Thursday, DFS said its order intake over the past ten weeks was 92 per cent higher than in the same period in 2019."Good for FCCN, licensing income from DFS must have been robust.
boonkoh: I'd love to take credit for today's near 10% rise, as the share price did only start moving after my message.What's going on? Good volume today too. Any bid rumours?
matthewbrandon105: Share price is trying to break out! Might be good news soon!
thesageofsaint: We need to remember that 70% of the equity is owned by two parties; founder Stephen Marks and Sports Direct. Unlike some composite low equity holding board led sales, this has the founder at the helm who is pricing his work of 50 years and Mike Ashley who is making a thumping loss at any price lower that 40p. So very little stock available to build a stake with for a hostile approach. Neither party if really interested will be building a stake and will only need to convince these two individuals to sell and it will be done. Conversely, if these two are unwilling to part at a price they believe undervalues, then no deal to be done. The share price movement is ultimately trading and betting on this outcome. A sale if it is to be done will likely be @40p in my opinion.
lomcovaks: Joules, Paul covered the HoF situation in his daily small cap report of the 14th August. hxxps://www.stockopedia.com/content/small-cap-value-report-tue-14-august-2018-cgs-mubl-hat-mmh-fccn-d4t4-390524/ 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.
French Connection share price data is direct from the London Stock Exchange
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