Laura Ashley sales down 4.5%

Home and fashion retailer Laura Ashley has reported that total sales fell 4.5% in the four

months to the end of May.

The company said the decline was largely due to the closure of unprofitable stores and its continuing store realignment programme.

Last year the retailer closed 16 stores and a further three stores have closed during the current financial year. There are currently 214 Laura Ashley stores in the UK and Ireland.

Like-for-like sales were down 1.3% although sales did pick up in the last nine weeks of the interim period. In contrast, on-line sales improved by 6.7%.

The group’s franchising and licensing business continued to expand with 236 franchise stores in 27 countries and the group said it was looking to expand its global presence through more international partnerships.

Looking ahead the group said: "The continued international growth of the brand, strong product offering, built-in operational efficiencies and robust balance sheet will provide a firm base for the company to meet its challenges this year."