23rd Feb 2006 10:36
Ashley (Laura) Hldgs PLC23 February 2006 Laura Ashley Holdings plc ('the Company') Laura Ashley Holdings plc today announces a trading update for the 52 weeks to 28 January 2006. During the 52 weeks to 28 January 2006, total like-for-like sales in the UK weredown by 6.7%. UK Home Furnishings like-for-like sales decreased by 1.3% and UKFashion like-for-like sales decreased by 25.0%. Lillian Tan, Chief Executive Officer of the Company, said: "Although our Home Furnishings like-for-like sales were down by 1.3%, itfinished the year strongly with positive like-for-like figures in the lastquarter of the financial year, boosted by a successful sale period and a good reaction to new product ranges. On the Fashion side, the decline in sales hadbeen expected given the reduced ranges and the decrease in store selling spaceas planned. Fashion performance did, however, start to improve towards the end of the financial year, driven primarily by a decision to increase linear densityin stores following an encouraging response to the new ranges. While the UKretail environment continues to pose challenges to the Company, the ongoing programme of cost management, driving efficiency and increasing productivitythroughout the business has contributed to an improved performance despitelower sales volume. The Company is on track with its strategy to realign its store portfolio andfurther develop the quality of its product offering whilst monitoring margins.Accordingly, we expect these measures to deliver further progress to thebusiness." It is expected that profit before tax (excluding one-off property profits) forthe full year ended 28 January 2006 will be slightly above the top end ofbrokers' forecasts. Enquiries: David Cook Chief Financial Officer 020 7880 5100 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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