Trading Statement
14 1월 2004 - 5:52PM
UK Regulatory
RNS Number:2098U
Ashley (Laura) Hldgs PLC
14 January 2004
14 January 2004
Laura Ashley Holdings plc
("Laura Ashley" or "the Company")
Laura Ashley Holdings plc today announces a trading update for the 24 weeks to
10 January 2004.
The Company currently has only nine remaining stores operating in Continental
Europe, and it is expected that it will have either franchised or disposed of
all but two of those by the end of this month. For this reason, this update
only covers the continuing retail operations in the United Kingdom.
Laura Ashley's Home Furnishings business now represents almost 70 per cent of
its UK retail turnover. Customers tend to buy furniture outside the Christmas
period. Therefore, Christmas trading statistics do not serve as a useful
indication of overall trading performance. For this reason it has been decided
that it is no longer appropriate for Christmas trading information to be
provided to the market.
In the 24 weeks to 10 January 2004 total like for like sales in the UK were down
0.6%. In Home Furnishings, like for like sales increased 3.1%. Fashion like for
like sales decreased 7.8 %.
In the 50 weeks to 10 January 2004, total like for like sales in the UK were up
1.9%, with Home Furnishings up 4.4% and Fashion down 2.8%. Total UK sales to
date are in line with the Company's expectations. Over the 50 week period
margins have been broadly the same as last year.
Ainum Mohd-Saaid, Joint Chief Executive Officer stated:
"Although the second half has been difficult, as reflected in the pressure we
experienced on our top-line, I am pleased that we have managed to protect our
margins through the careful control of our promotional activity, our space
maximisation programme and the continued focus on costs."
Rebecca Navarednam, Joint Chief Executive Officer added:
"In the longer term, having effectively completed our programme to exit from
Continental Europe, the Group is well positioned for the future. However,
retail markets remain difficult and both the home furnishing and fashion sectors
are competitive. Although we remain cautious about the future, Laura Ashley is
now in much better shape to compete and, ultimately, to deliver value to its
shareholders."
Enquiries
Tom Buchanan Brunswick 020 7404 5959
Katya Reynier
Deborah Spencer
This information is provided by RNS
The company news service from the London Stock Exchange
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