Laura Ashley reported total UK retail sales up 3.1 per cent in the first 19 weeks of the second half, but difficult trading conditions hit like-for-like sales, which fell 10.8 per cent.
Laura Ashley said difficult trading and store openings affected like-for-likes. The fashion and homewares retailer opened 26 stores in the UK in the first 10 months of the current financial year. However, during the same period, the retailer said margin rates continued to improve compared with last year, up 2 percentage points.
In the second half, sales rocketed 26 per cent at Laura Ashley's internet business, but slumped 17 per cent at its mail order arm. Sales at the direct channel were down£300,000.
Laura Ashley expects profit before tax for the financial year to January 26 to be broadly in line with forecasts. It will continue to focus on store expansion and realignment, improved product offering and increased operational efficiency.
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