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French Connection Group shares have risen on the FTSE All-share after the Group sold Nicole Farhi and the majority of its loss making operations in the USA.
The Group gained 7.14 pct despite the rest of the services sector being negative.
The clothing group announced its results today for the year ended 31 January 2010. Net loss widened to £24.9 million from £16.6 million.
In response, the fashion store owner, announced it would sell the majority of loss making stores in USA as soon as possible.
An offer for the Nicole Farhi brand was already under consideration for up to £5 million by Fashion Runaway Limited.
Shares edged 6 pence, 14.29 pct higher on the news.
A dividend of 0.5 pence per share was also announced subject to approval at the AGM on 6 July 2010.
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