Rare feat as online sales tumble at Laura Ashley
Wednesday 25 September 2013
Laura Ashley managed to achieve a rare feat for the High Street today, recording a fall in online sales.
The label brought to an end a disappointing half year with a 5.6 per cent drop in sales to £137.3 million and pre-tax profits down 10.8 per cent to £7.4 million.
However, while most High Street rivals are managing some form of growth online, Laura Ashley saw sales fall 3.4 per cent to £19.7 million.
The weather — both hot and cold — was partly blamed for the poor results, which saw shares crash more than 14 per cent to 22.5p.
Chairman Khoo Kay Peng explained: “The first half of 2013 has proved to be a challenging one for us. A period of prolonged cold weather impacted fashion sales as customers continued to wear winter clothing and did not buy into spring/summer ranges later in the season.
“The subsequent switch into a long spell of very hot weather, particularly throughout July, had a negative impact on home furnishing sales.”
UK sales fell 5.9 per cent to £120 million, with like-for-like sales dropping 2.2 per cent. Two stores opened and five closed.
Three of the four areas of the business — home accessories, decorations and fashion — all saw falls in sales, with only furniture managing an increase of 0.5 per cent.
- 1 Gun instructor accidentally shot dead by nine-year-old girl with Uzi gun
- 2 Miley Cyrus' homeless MTV VMAs date, Jesse Helt, is wanted by the police
- 3 Notting Hill Carnival: Woman shares selfie after being ‘punched in face for telling man to stop groping her’
- 4 Pamela Anderson rejects ice bucket challenge because of ALS experiments on animals: 'Mice had holes drilled into their skulls'
- 5 Homer Simpson has taken the ALS ice bucket challenge because of course he has
Kensington flat branded ‘uninhabitable’ by estate agent on sale for a bargain £600,000
Gun instructor accidentally shot dead by nine-year-old girl with Uzi gun
Miley Cyrus' homeless MTV VMAs date, Jesse Helt, is wanted by the police
Notting Hill Carnival: Woman shares selfie after being ‘punched in face for telling man to stop groping her’
The 13 obscure UK laws you didn’t know you were breaking
Exclusive: We share blame for creating 'jihad generation', says Muslim strategist
Robin Williams Emmys tribute led by Billy Crystal criticised for including 'racist' joke about Muslim woman
The Rotherham child abuse scandal is a tale of apologists, misogyny and double standards
Scottish independence TV debate: Pumped-up Alex Salmond bounces back in bruising second round against Alistair Darling
Jeremy Clarkson is a cultural tumour and needs to be removed, says comedian Frankie Boyle
Do you realise just how foolish the UK looks?
- < Previous
- Next >
iJobs Money & Business
£40000 - £48000 per annum + benefits+bonus+package: Harrington Starr: C# Devel...
£45000 - £60000 per annum + benefits+bonus+package: Harrington Starr: C# Swift...
Negotiable: Harrington Starr: A fast growing Financial Services organisation b...
£50000 - £60000 per annum + excellent benefits: Harrington Starr: An award-win...