Retail sales jump 12.5%
Furnishing-to-fashion retailer Laura Ashley revealed total UK retail sales jumped 12.5 per cent - exceeding market expectations - with like-for-likes up 8.7 per cent for the 50 weeks to January 13.
Total sales were up across all four product categories; home accessories, decorating, furniture and fashion.
In the last trading update, UK retail like-for-likes increased 13.1 per cent for the 31 weeks to September 2, against fairly weak comparatives the year before. However, the retailer's sales performance improved in the second half of the year, meaning like-for-likes were slightly lower.
The company expects full-year profits (ending January 27) to be about 10 per cent ahead of brokers' forecasts.
The store re-alignment programme also gained momentum in the second half, with 17 stores opened across the UK.
The company said the stores' performance has been encouraging, but it has also had to close 10 underperforming stores.
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