Dec 16, 2009
Laura Ashley sees full-year trading in line with own view
Dec 16, 2009
Dec 16 (Reuters) - British fashion and homewares retailer Laura Ashley Holdings Plc (ALY.L) said on Wednesday 16 December it expected full-year trading to be broadly in line with its estimates.
For the 19 weeks to Dec. 12, total UK retail sales rose 8.8 percent, while like-for-like sales grew 4.9 percent, aided by an increase in retail selling space from stores opened in the previous year and targeted promotional activity.
The company, which now has 231 stores in the UK and Ireland, said it opened one new store and closed one in the UK since September.
"In a retail environment that remains challenging, we will continue to focus on our strong brand and product offering in addition to improving operational efficiencies," the company said in a statement.
In September, the company had said it was hopeful of an improved second-half performance after its first-half profit was dented by foreign exchange losses.
Laura Ashley shares closed at 13.25 pence on Tuesday 15 December on the London Stock Exchange. (Reporting by Tresa Sherin Morera in Bangalore; Editing by Vinu Pilakkott)
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