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Laura Ashley posts 7% increase in like-for-like sales

Laura Ashley has reported that like-for-like retail sales rose by 7% in the 26 weeks to 1 August.

GENERAL MERCHANDISE

Laura Ashley posts 7% increase in like-for-like sales

Laura Ashley has reported that like-for-like retail sales rose by 7% in the 26 weeks to 1 August.

While pre-tax profit was £8.4 million compared to £8.5 million in the same period a year earlier, total group sales edged down 3% to £139.7 million. Online sales climbed by 4.5%.

The fashion and homewares retailer said its UK business was buoyed by a strong performance from its online channel.

Meanwhile, the group’s hotel business saw its revenue climb by 44%.

Tan Sri Dr Khoo Kay Peng, Laura Ashley chairman, said: "I am pleased to report that our business has maintained the robust performance of recent years with a healthy increase in like-for-like retail sales.

“We are encouraged as we enter the second half of the year. We will continue to work with our overseas franchisees to ensure that we maximise the international opportunities for our franchise partners and the group.

“Development and improvement of our digital platform, which has been a core group strategy over recent years, will remain a key focus as we strive to deliver a high quality, multichannel experience for our customers.”

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