Apr 1, 2010

Laura Ashley plans more gift storesBy Google.com

Home furnishings chain Laura Ashley has said it plans to open more specialist gift stores this year following the success of a trial outlet.

The company trades mainly from larger sites but has been encouraged by initial feedback to its gift and accessories store opened at London’s Liverpool Street station last July.

Chief executive Lillian Tan said Laura Ashley could open another five concept stores this year in high-traffic locations as it seeks to appeal to travellers hunting gifts on the move.

The move came as the group posted an 8% rise in underlying pre-tax profits for the year to January 30 to £11 million, although margins were squeezed by the weaker pound.

“Consumer confidence is returning but is tempered with a degree of caution,” the firm said. Laura Ashley currently has around 4,000 staff and 231 stores in the UK, of which 137 sell all of its product categories.

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