BREAKING NEWS

BREAKING NEWS

Fashion retailer Laura Ashley sees full-year results below market view

Fashion retailer Laura Ashley sees full-year results below market view
People walk past a Laura Ashley store in Kiev, Ukraine, March 30, 2016. REUTERS/Gleb Garanich -
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(Reuters) - British fashion retailer Laura Ashley Holdings Plc said on Wednesday its performance for the entire year would miss market expectations as consumers spent less.

Like-for-like retail sales at the retailer, popular for its floral prints, fell 4.2 percent in the 26 weeks to Dec. 31, as a Japanese partner scrapped a license agreement.

Profit before tax and exceptional items broke even, compared to earnings of 4.3 million pounds in the previous year.

Laura Ashley shares were seen falling as much as 15 percent on Wednesday, according to a premarket indicator.

(Reporting by Devika Syamnath in Bengaluru; Editing by Bernard Orr)

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