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Article: Analysis: Chief exec stakes reputation on French Connection recovery.
- Article from:
- Marketing Week
- Article date:
- September 18, 2008
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While it has become fashionable to blame the "economic downturn" for disappointing company results, fashion brand French Connection Group claims its business is suffering due to the rising cost of utility bills and food.
Outspoken chief executive and chairman Stephen Marks accused the energy industry of profiteering on Friday, after posting pre-tax losses of #3.5m in the first half of this year against a loss of #2.5m in the same period a year earlier. However, turnover rose #3m to #112.4m.
He said that he had never seen such a combination of pressures hitting consumers at the same time - one of the worst economic climates he has seen in his ...