Laura Ashley Q3 retail sales fall 2 percent

UK retailer Laura Ashley has faced a further decline in sales as it

prepares itself for its key Christmas trading period. Laura Ashley’s total retail sales dropped 2 percent in the third quarter. In the 19 weeks ended December 7, 2013, total retail sales dropped 2 percent year-on-year, with like-for-like sales decreasing 0.7 percent. The declines follow a first-half drop in revenues of 5.9 percent in September.

E-commerce recorded sales growth of 1 percent in the period, but for the full year to December 7, total sales fell 2.1 percent, with like-for-like sales sliding 1.6 percent.

Christmas and January combined is a key trading time for the Laura Ashley group, with much of the second half profitability generated during this period, although recently-signed licensing agreements are also expected to boost profits next year.