Challenging trading conditions along with the closure of 22 concessions in Homebase stores were blamed for a drop in profits and sales at Laura Ashley. Like for like sales were £277 million and online sales increased by 5.6 per cent like for like.
“Trading conditions have been challenging for the year ended 30 June 2017,” commented chairman Khoo Kay Peng. “The impact of weak sterling has also contributed to the overall fall in profit which the group has experienced.”
The business remains positive about its international expansion. In the UK it has been staging a full product line, retail store and online, 40 per cent off sale.
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