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By Aastha Agnihotri
(Reuters) - French Connection Group Plc (L:FCCN) said its full-year results would be "in line with market expectations", defying a tough market that has forced rival British clothing retailers to cut guidance.
Shares of the company, which is trying to turn around its business after years of underperformance, rose as much as 19.6 percent on the London Stock Exchange on Wednesday.
A number of big British apparel retailers, including Next Plc (L:NXT) and SuperGroup Plc (L:SPG), have trimmed full-year profit forecast in recent weeks as warm autumn weather kept coats and scarves on the shelf.
Erratic weather is also driving European clothing retailers to buy goods more often and closer to home, rather than relying on seasonal collections sourced months in advance.
"French Connection bought tightly for the season," analysts at Numis Securities wrote in a note.
The company, best known for its FCUK brand, said it had reduced its quarterly losses before tax for the three months ended Oct. 31, helped by an improvement in its wholesale division and global licence income.
"We expect the results for the full year to be in line with market expectations," Chairman and Chief Executive Stephen Marks said in a statement.
Though UK and Europe comparable revenue in the 17 weeks to Nov. 22 was 5.7 percent lower than in the year-earlier period, the company said its order book for spring 2015 was "strong".
The Numis analysts said like-for-like inventory levels were probably lower than a year earlier.
"We understand that the business is comfortable with its stock levels ahead of Christmas," they wrote.
French Connection shares were up 8.8 percent at 56.20 pence at 1129 GMT. Up to Tuesday's close, the stock had risen about 71 percent this year.
(Editing by Robin Paxton)