Laura Ashley News Update: Sales Take a Dive
Laura Ashley News Update: Sales take a dive. The iconic brand has achieved something that is rare on todays high street with a dip in its on line sales.
The brand ended a disappointing half-year with about a five and a half per cent drop in its sales which were down to just over one hundred and thirty seven million with pre tax profits down as well to just under seven and a half million pounds.
The surprise though was that while most other high street brands are managing to grow their business on line Laura Ashley saw their sales falling by just under three and a half per cent to a figure of just over nineteen and a half million. Some reasons put forward for the decline were the weather at both ends of the scale both the very warm and the very cold conditions that have been present in Britain over the past year and contributed to a share crash of greater than fourteen per cent to twenty two and a half pence per share.
The Chairman of the brand Khoo Kay Peng said that the first half of 2013 had proved to be a challenge for Laura Ashley. The prolonged period of very cold weather made its impact on fashion sales as customers stayed dressed in their winter clothing for longer and did not buy the spring summer ranges as early as was customary, coming to the lighter clothing ranges much later in the year.
Laura Ashley News Update
Then with the exceptionally hot summer, especially during the month of July the brands home furnishing sales were hit as customers stayed away form the shops and focused more on the outdoor life and purchases for the garden and other outdoor pursuits. Sales in the UK fell to one hundred and twenty million that was a fall of just under six per cent.
Over the same period two of the Laura Ashley high street stores opened while another five closed their doors. While over all the sales of furniture increased a modest half of a per cent the other three areas of the business, its fashion its home accessories and its decoration business all saw falls in their sales.
These are tough and challenging times for our high street retailers but the Laura Ashley brand has weathered many a storm and will surely survive this dip in its fortunes.
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