Laura Ashley like for likes down 7.6 per cent
Weaker consumer spends coupled with the opening of new stores impacting existing stores hurt LFL sales
In the first 17 weeks of the current financial year ending January 2009, total UK retail sales increased by 7.9 per cent due mainly to the increase in retail selling space. The store expansion and realignment programme led to the opening of 12 new stores and the closure of 2 stores in the UK during this period. Mail Order and Internet sales grew by 8.1 per cent, driven mainly by the groups growing Internet business.
“Despite the difficult trading outlook anticipated for the period ahead, we expect our profit before tax for the financial year ending 31 January 2009 to be broadly in line with brokers’ forecasts. We will continue to focus on our store expansion and realignment programme, improved product offering and improving our operational efficiencies.” the group said.
