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Laura Ashley sees strong online sales

The homeware and fashion retailer Laura Ashley reported a 74% rise in web sales and remains confident of continued growth for the rest of its financial year.

According to an investor update released today, mail order sales declined by 26%, but the positive performance of the web channel meant overall sales increased by 42%, while total UK revenue rose by 6.2% for the first 17 weeks of the year ending 29 January 2011.

The company, which has a network of 22 stores across UK and Ireland, remains upbeat about the future, even though trading conditions in the retail sector remain difficult.

"Despite the current economic uncertainties, we remain confident of continued growth in 2010 built on the platform of a strong balance sheet with no bank borrowing, a strong brand and a distinctive product offering. Maximising operational efficiency will continue to be a key focus for the management team," the company said.


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