Furniture & fashion retailer Laura Ashley has today reported a 0.6 per cent drop in both total and like-for-like (LFL) sales in its first quarter as its fashion offering underperformed as a result of poor weather, according to results.
For the 18 weeks ended June 1st 2013, the retailer reported a “strong performance” and LFL growth across its home furnishings business, though this failed to boost its overall position.
Commenting on the disappointing fashion sales, a statement from Laura Ashley said: “We are continuing to improve and enhance our fashion range and are optimistic that this will be reflected in our second half performance.”
Over the period, the retailer opened two stores and closed three with further changes to its bricks & mortar portfolio expected throughout the financial year.
Laura Ashley’s franchise business continues to grow as the retailer opened 10 new shops over the quarter and signed three new franchise agreements, taking the total number of stores to 276 across 31 countries.
Online sales are also flourishing, with its e-commerce sales growing at 4.4 per cent on the same period last year.