Store streamlining improves profitability for Laura Ashley
The company announces its Interim Management Statement for the 19 weeks to 11 December 2010
In the first 19 weeks of the second half to 11 December 2010, total UK retail sales increased by 1.3% year-on-year (like-for-like sales increased by 2.7%). 2 new stores opened and 12 closed this year and the company continues to ‘streamline our store portfolio in an effort to optimise profitability’.
Although Laura Ashley is experiencing slower LFL growth in the second half due to the impact of a sluggish economy and adverse weather conditions, the underlying LFL sales growth for the year to date is 4.6%.
On line sales grew strongly as the e-commerce channel recorded growth of 28.7% and the company continues to enhance and improve their online presence.
Despite the current economic uncertainty and adverse weather conditions in the UK, the company says that it remains confident that full year trading will be ahead of the Board's expectations.
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