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Across the board growth for Laura Ashley

Fri, 10th Sep 2010 09:03

Laura Ashley fans are increasingly going online to buy the firm's products, a trend that has contributed to a strong first half to the year in which all of the group's product categories registered year on year like for like growth.Total group sales in the six months to the end of July were up 5.7% to £135.1m from £127.8m a year earlier.The improvement in the homewares and fashion retailer's sales was largely driven by online sales and a good performance by the UK shops.Total UK retail sales rose 5.5% to £121.6m, with like for like (LFL) sales up 6.2% year on year. E-commerce sales were up 63.0% to £15.4m from £9.4m, while UK store sales improved by 1.6% to £103.1m from £101.5m the year before, despite retail space being cut back by 2.3% as a result of the closure of six stores. The UK retail chain now numbers 225 shops.Profit before taxation, including gains from exceptional items, was £10.5m, a sharp increase from £1.1m a year earlier. With exceptional items excluded profit before tax was £5.7m (2009: £0.1m).The exceptional gain of £4.8m this year primarily relates to the sale and leaseback of the company's Bardon warehouse.The increase in sales did not come at the expense of margins, though the recovery of sterling played its part in the improvement of the gross margin by 1.4 percentage points. The negative overall impact of foreign exchange movements reduced to £1.8m from £5.5m last year.Furniture sales for the reporting period increased by 7.8% (LFL +9.2%) over the same period last year. Home Accessories sales increased by 5.0% (LFL +5.2%) year on year, while Decorating sales rose 6.3% (LFL +7.1%). Despite facing some tough comparatives, Fashion sales increased by 4.2% (LFL +1.6%) over the same period last year, the company said.The second half of the year has seen continued growth. For the 31 weeks to 4 September 2010, total UK retail sales increased by 4.5%. For the same period, LFL UK retail sales was up by 4.9%.Cash at the end of July was £31.2m, boosted by £12.3m from the sale and leaseback of the group's Bardon warehouse.The interim dividend has been increased to 0.5p from 0.25p.
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23 Mar 2020 11:39

Insolvent Laura Ashley To Permanently Shut 70 Stores And Axe 721 Jobs

Insolvent Laura Ashley To Permanently Shut 70 Stores And Axe 721 Jobs

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23 Mar 2020 10:26

Laura Ashley shuts 70 stores

(Sharecast News) - Laura Ashley will close 70 of its UK stores on Monday, putting more than 700 jobs at risk, as administrators start trying to find a buyer for the retailer.

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20 Mar 2020 08:55

UPDATE 2-Hotel Chocolat agrees share issue ahead of coronavirus hit

(Updates to reflect increased size of placement)March 20 (Reuters) - British chocolatier Hotel Chocolat said on Friday it had agreed to issue new shares to inject 22 million pounds into the business, as it faces having to close its cafe and store ...

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20 Mar 2020 08:55

UPDATE 1-Hotel Chocolat agrees share issue ahead of coronavirus hit

(Adds details from statement, background)March 20 (Reuters) - British chocolatier Hotel Chocolat said on Friday it had agreed an issue of new shares that would inject 20 million pound into the business, as it faces having to close its cafe and sto...

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17 Mar 2020 11:27

UPDATE 2-UK retailer Laura Ashley succumbs as virus hits, shares slump

* Laura Ashley to appoint administrators* Says is in advanced talks for third-party debt funding* Shares will be suspended from trading (Adds shareholder comment, updates share move)By Tanishaa NadkarMarch 17 (Reuters) - Laura Ashley said on Tuesday...

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17 Mar 2020 11:00

Virus Claims Former British Icon As Laura Ashley Enters Administration

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16 Mar 2020 13:43

Laura Ashley seeks ?15m lifeline despite sales jump

(Sharecast News) - Home furnishing retailer Laura Ashley said crucial funding discussions were still ongoing, as it posted a 28% jump in sales but warned of a possible hit going forward from the coronavirus outbreak.

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16 Mar 2020 11:51

Laura Ashley In Financing Talks, To "Consider All Appropriate Options"

Laura Ashley In Financing Talks, To "Consider All Appropriate Options"

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16 Mar 2020 11:10

UK WINNERS & LOSERS SUMMARY: Sainsbury Is Lonely Riser On Broker Note

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16 Mar 2020 08:54

UPDATE 1-Laura Ashley says will need further funding boost

(Adds background on company, details from today's statement)March 16 (Reuters) - British retailer Laura Ashley warned on Monday it would need additional funding to meet its ongoing working capital requirements, just a month after saying it has acc...

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16 Mar 2020 07:34

Laura Ashley says will need further funding boost

March 16 (Reuters) - British retailer Laura Ashley warned on Monday that it will need additional funding to meet its ongoing working capital requirements, just a month after saying it has access to sufficient cash to meet its immediate needs.The ...

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27 Feb 2020 17:56

EXECUTIVE CHANGE SUMMARY: Burford Capital Adds Independent Directors

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20 Feb 2020 11:09

Laura Ashley Has "Disappointing" Interims; Accelerates Change At Top

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20 Feb 2020 07:31

Laura Ashley first half loss jumps to 4 mln pounds

Feb 20 (Reuters) - Troubled clothing and furnishing retailer Laura Ashley saw pretax losses more than double in the first half of the year, hurt by weak demand for its home furnishing business and disruption from a change in its Japanese franchis...

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19 Feb 2020 13:44

UPDATE 2-Laura Ashley calms concerns with funding agreement

(Recasts, adds shareholder quotes, updates shares)By Tanishaa NadkarFeb 19 (Reuters) - Clothing and furnishing retailer Laura Ashley calmed concerns over its working capital, saying it has access to sufficient funds to meet immediate funding needs...

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