Laura Ashley group sales down 1.4 percent in 2013

REPORT_ Laura Ashley announcing its results for the 52 weeks to 25 January 2014 said that its total group sales went down 1.4 percent to 294.5 million pounds (489.8 million dollars). Full year retail like-for-like sales were down 0.4 percent. Commenting on the results, K P Khoo, Chairman, said, “I am encouraged

that, despite a challenging first half, we have seen good like-for-like sales growth during the second half. We will continue with the progress we have made in developing our brand, growing our product ranges, improving our systems and enhancing our online business. These initiatives, together with the growth of our international franchise business, will remain our primary focus. In the first two months of the current financial year, we have achieved like-for-like sales growth of 2 percent. This is an encouraging start to the year and we believe that this progress can be maintained.”

For the 52 weeks to 25 January 2014, profit before taxation including exceptional items was up 2 percent, whereas profit before taxation excluding exceptional items was down 4 percent. As at 25 January 2014, the property portfolio in the UK comprised 209 stores, having five store types: 130 mixed product stores (selling all product categories), 50 home stores (selling home products only), 24 home concession stores, 4 gifts & accessories stores and 1 clearance outlet.

E-Commerce channel contributed 16 percent of total UK retail sales (14 percent of total group sales). Laura Ashley delivers its full product range to France, Germany, Austria, Italy and Switzerland, in addition to the UK. For the year ended 25 January 2014, UK retail fashion sales decreased by 6.5 percent.

International business now accounts for 11 percent of total revenue. As on 25 January 2014, there were 286 franchised stores in 32 territories worldwide, including stores in Armenia, Poland, Estonia and Qatar. Franchise revenues grew by 4.2 percent over the year. Licensing income decreased by 21 percent.