Laura Ashley losses deepen as chief executive change bought forward
Laura Ashley has reported deepening losses and falling sales in its interim results, which has resulted in Katharine Poulter being promoted to chief executive with immediate effect.
The embattled homewares and fashion brand posted losses of £4m before tax for the 26 weeks to December 31, 2019, deepening from £1.5m the previous year.
Total sales across the group fell to £109.6m, down from £122.9m in the corresponding period the previous year, while like-for-like sales slumped by 10.4%.
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