×
810
Fashion Jobs
NORDSTROM CANADA RETAIL INC
Security Ambassador, Loss Prevention, Willowbrook Rack
CDI · Langley City
TAPESTRY
Sales Supervisor - Cross Iron Mills - Kate Spade
CDI · Calgary
RALPH LAUREN
Polo Factory Store - General Manager
CDI · Winnipeg
MAC
Bilingue Directeur(Rice) Régional Des Ventes/ Bilingual Field Sales Manager - (Retail Partner) - Mac Montreal,qc
CDI · Montreal
MAC
Field Sales Manager - (Retail Partner) - Mac (1 Year Contract)
CDI · Toronto
TJX CORPORATE
HR Digital Media Specialist
CDI · Mississauga
ESTÉE LAUDER COMPANIES
E-Commerce Manager, Mac Brand
CDI · Toronto
NORDSTROM CANADA RETAIL INC
Security Ambassador
CDI · Mississauga
NORDSTROM
Loss Prevention Security Ambassador Vaughan Mills Rack
CDI · Vaughan
TJX CORPORATE
sr. Gbs Business Analyst
CDI · Mississauga
NORDSTROM CANADA RETAIL INC
District Manager Asset Protection Eaton Centre
CDI · Toronto
ESTÉE LAUDER COMPANIES
Senior Manager, Accounting & Controls
CDI · Toronto
FOOT LOCKER
Overnight Assistant Operations Manager
CDI · Brampton
NORDSTROM
Loss Prevention Security Ambassador South Edmonton Common Rack
CDI · Edmonton
L'OREAL GROUP
Business Consultant - Québec, Québec
CDI · Quebec City
NORDSTROM CANADA RETAIL INC
Loss Prevention Agent, Pacific Centre
CDI · Vancouver
ESTÉE LAUDER COMPANIES
Operations Manager/Group Leader - 3rd Shift
CDI · Markham
RALPH LAUREN
Club Monaco - Associate Product Manager Full Time
CDI · Burnaby
ESTÉE LAUDER COMPANIES
Maintenance & Reliability Manager
CDI · Markham
MARSHALLS
Part Time Sales Associate, Marshalls, Bower Place-Red Deer
CDI · Red Deer
HOMESENSE
Store Associate, Part-Time, Seasonal , Home Sense
CDD · Charlottetown
WINNERS
Merchandise Coordinator, Winners,Fort Saskatchewan, New Store Opening
CDI · Fort Saskatchewan
Published
Feb 20, 2019
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Laura Ashley has tough first half but fashion ops are on an upswing

Published
Feb 20, 2019

Laura Ashley has faced tough times in recent periods so its interim report that was released on Wednesday morning was being closely watched for any signs of  improvement.


Laura Ashley



But not enough improvement was to be found and the company’s shares fell as much as 6.5% in early trading as it warned that its full-year performance will undershoot expectations.

It said that total group sales in the 26 weeks to December 31 dropped to £122.9 million from £134.7 million (although this was largely due to store closures) and total like-for-like retail sales were down 4.2%.

Margins were dented by weak sterling against the US dollar, as well as an increase in domestic costs, and the pre-tax loss was £1.5 million, down from £4.3 million a year earlier. 

Was there any good news in the report? Yes there was, especially for the fashion arm of the business. The company had started out decades ago as a fashion specialist but its interiors offer has become much bigger since then. However, the remaining fashion business managed a like-for-like sales increase of 11.8% in the first half.

Total fashion sales for the 26 weeks increased 7.2% and the category’s performance “continues to strengthen. Early reactions to Spring 2019 products are positive and this growth is expected to continue,” the company said.

But that double-digit like-for-like rise wasn't enough to rescue the company from what was clearly a very challenging trading period. 

Chairman Andrew Khoo said that “trading conditions have been difficult during the first six months of the year. Given the continued market turbulence and having reviewed the revised management forecast for the second half year, the board now holds the view that the performance for the entire year will fall short of market expectations.”

But he called out the strength of the fashion ops and also said the recent launch of a new digital platform “is expected to improve online sales in the years ahead.”

He added that, in line with its transformation towards being a more lifestyle brand, the group “remains committed to” further develop the hospitality segment of its business. With four tearooms and a licensed hotel already in operation, it has “laid the foundation for the further expansion. A number of opportunities are being evaluated, and we expect to see further openings this year.”

The group has a new licence deal with Itochu for Japan (it was previously with Aeon) and so is upbeat about that country and said it’s also exploring other new partnership opportunities on the international front “which will provide the thrust for our future growth.”

And international is clearly important. In the first half of this financial year, new stores were opened in India and Thailand by its franchise partners. In China, its online business continued to show growth and the Asian market “will be a key focal point for the group's international expansion, while we also explore opportunities in other regions.”

Copyright © 2021 FashionNetwork.com All rights reserved.