Interim Management Statement

16 Dec 2009 07:00



LAURA ASHLEY HOLDINGS PLC

Interim Management Statement

16 December 2009

Laura Ashley Holdings Plc today announces its Interim Management Statement for the 19 weeks to 12 December 2009.

In the first 19 weeks of the second half to 12 December 2009, total UK retail sales increased by 8.8% year-on-year (like-for-like sales increased by 4.9%) due mainly to targeted promotional activity during this period and the increase in our retail selling space from stores opened in the previous year. One new store was opened and one was closed in the UK since our last announcement. We now have 231 stores in the UK and Ireland. 

In the same reporting period, net growth of 20.8% was recorded in our E-Commerce and Mail Order channels. E-Commerce sales registered an increase of 47.5%, more than compensating for a decline in Mail Order sales of 23.7%. Made-to-order furniture and made-to-measure curtains have been added to the online customer offers. We are satisfied with customer responses. 

No major developments have occurred in our franchising or licensing channels since the last announcement. Currently, there are 228 franchise stores globally in 27 countries. 

In a retail environment that remains challenging, we will continue to focus on our strong brand and product offering in addition to improving operational efficiencies. We expect the full year trading to be broadly in line with the Board's expectations.