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Laura Ashley on target

Laura Ashley says it expects full year trading to be in line with expectations.

CITY & CORPORATE

Laura Ashley on target

Laura Ashley says it expects full year trading to be in line with expectations.

For the 17 weeks to 29 May 2010 total UK retail sales increased by 6.2% year-on-year (like-for-like sales increased by 5.3%).

Online sales soared by 74% over the period and although Mail Order sales have declined by 26%, the combined Direct Sales channel has increased by 42%.

"Despite the current economic uncertainties, we remain confident of continued growth in 2010 built on the platform of a strong balance sheet with no bank borrowing, a strong brand and a distinctive product offering. Maximising operational efficiency will continue to be a key focus for the management team.  Although at an early stage in the year, we expect full year trading to be in line with expectations" the company said. 

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