British Broadcasting Corporation


Page last updated at 09:35 GMT, Friday, 19 December 2008

'Tough trading' hits Laura Ashley

Laura Ashley
Laura Ashley is looking abroad for growth opportunities

Laura Ashley has seen a fall in like-for-like sales for the past five months compared with the same period last year due to "tough trading conditions".

Taking out the impact of new stores, sales at the home furnishings and fashion retailer were down 9.9% during the 20 weeks to 13 December.

Total sales, however, which include the nine new stores opened during the period, increased by 9.7%.

The company said it should meet its targets for the financial year.

The company blamed "the current economic climate combined with the effects of new store openings" for the drop in like-for-like sales.

"Although the outlook remains extremely challenging, we will continue to focus on increasing revenue generation... improving operational efficiencies, differentiating our product offering and continuing our store realignment programme," a management statement said.

The company also reported growth in its franchising and licensing network. Laura Ashley's Asian franchise partner has begun a programme to open 80 stores in China over the next five years.

Home accessories account for around 28% of sales at Laura Ashley, with furniture accounting for 26%, decorating for 24% and fashion for 22%.

Print Sponsor


RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites


FEATURES, VIEWS, ANALYSIS
Eye-catching images from around the world this week
How woman fought multiple sclerosis to scale Everest
Pakistan urges return to Swat - but is it safe?

PRODUCTS & SERVICES

Explore the BBC

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.
Americas Africa Europe Middle East South Asia Asia Pacific