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Laura Ashley posts increase in sales and profit

Fashion and homewares retailer Laura Ashley has reported that like-for-like retail sales rose by 4.1% in the 74 weeks to 30 June with growth across all… View Article

GENERAL MERCHANDISE

Laura Ashley posts increase in sales and profit

Fashion and homewares retailer Laura Ashley has reported that like-for-like retail sales rose by 4.1% in the 74 weeks to 30 June with growth across all categories. Like-for-like online sales climbed by 15.7%.

Pre-tax profit before exceptional items was £25.8 million compared to £22.9 million in the 53 week period in the previous year.

Tan Sri Khoo Kay Peng Laura Ashley chairman, said: “I am pleased with the overall performance of the business. Continued like-for-like growth in the UK market, boosted by the good performance of our digital channel, is encouraging.”

In the UK, Laura Ashley achieved total sales of £363.2 million compared to £267.4 million in the previous 53 week period. Total group sales were £400.9 million.

The company said trading for the six weeks to 13 August was in line with management expectations.

Tan Sri Khoo Kay Peng added: “The company will continue to focus on enhancing the design and quality of its product ranges upon whose provenance the brand has been built. In a time of uncertainty for retail and the global economy at large, I am optimistic and confident that Laura Ashley will remain a business with solid foundations to withstand challenges as they arise.”

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