Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Laura Ashley like-for-likes down 1.3% as it closes unprofitable stores

Laura Ashley said like-for-like sales slid 1.3% in the 17 weeks to May 28, due largely to the closure of unprofitable stores.

Total UK sales fell by 4.5% during the period.

The fashion-to-furnishings retailer said sales improved in the second half of the period. When Laura Ashley reported its annual results on March 31, like-for-like sales for the first eight weeks of the current financial year were down by 4.2%. It said better performance in the subsequent nine weeks, the overall like-for-likes sales were reduced to 1.3%.

Online sales were up 6.7% in the 17-week period.

Laura Ashley currently operates 214 stores in the UK and Ireland. In the last financial year, 16 stores were closed. Another three shops have been closed in the current financial year.

Laura Ashley said its continued international growth, operational efficiencies and robust balance sheet will provide a solid base to meet the challenges of the year. It anticipates therefore that full year trading will be in line with expectations.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.