August 22, 2019 / 6:26 AM / 4 months ago

Retailer Laura Ashley blames difficult period for annual loss

Aug 22 (Reuters) - Clothing and furnishing retailer Laura Ashley reported an annual pretax loss on Thursday, in what the company said was a difficult period for the group and retail sector.

The company posted a loss before tax and exceptional items of 9.8 million pounds ($11.87 million) for the year ended June 30, compared with a profit of 5.6 million pounds in a year-ago period, dented by weak performance in its home furnishing business and “re-platforming” of its website last year.

Laura Ashley, known for its trademark Victorian-era style dresses and floral prints, said the company was performing in line with management’s expectations for the seven weeks ended Aug. 17.

$1 = 0.8254 pounds Reporting by Tanishaa Nadkar in Bengaluru, Editing by Sherry Jacob-Phillips

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