Stock in French Connection falls

SHARES in fashion retailer French Connection plummeted yesterday after it issued an unplanned profit warning saying that weak sales meant it was unlikely to reach profit forecasts.

Broker Seymour Pierce downgraded its rating on French Connection to hold from buy and placed its target rating under review. Seymour Pierce says it is downgrading 2012 pre-tax profit forecasts to £7m from £10m.

Shares in French Connection closed down 15.5 per cent at 62p.