BREAKING NEWS

BREAKING NEWS

Fashion retailer Laura Ashley tanks after warning on annual results

Fashion retailer Laura Ashley tanks after warning on annual results
FILE PHOTO: People walk past a Laura Ashley store in Kiev, Ukraine, March 30, 2016. REUTERS/Gleb Garanich -
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Gleb Garanich(Reuters)
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(Reuters) - Fashion retailer Laura Ashley Holdings Plc said on Thursday it expects annual results to be significantly below market view after a challenging third quarter, sending its shares to an all-time low.

The company had already warned in February that its performance for the year would miss market expectations as consumers spent less. It also rebuffed an unsolicited takeover offer from investment firm Flacks Group back in February.

Shares of the company were down 21.1 percent at 2.21 pence by 0940 GMT.

(Reporting by Shashwat Awasthi in Bengaluru; Editing by Bernard Orr)

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