Fashion

Laura Ashley’s stock price reaches an all-time low


New York – UK-based fashion retailer Laura Ashley Holdings warned
on Thursday that its annual results would be significantly below
market view after a challenging third quarter. As a result, the
company’s shares price hit an all-time low.

The retailer’s stock fell as much as 21.1 percent to 2.21 pence
reported Reuters.

It’s worth recalling that over the past few months Laura Ashley has
been going through store closures and the termination of a license
agreement with a Japanese partner.

Taking notice of the effects of the aforementioned struggles, the
fashion company had already warned in February that its performance
for the year would miss market expectations as consumers spent less.
“Trading conditions have been very demanding over the third quarter,”
said the company in a statement.

Laura Ashley’s bleak forecast follows the company’s refusal of an
unsolicited takeover offer from investment firm Flacks Group back in
February.



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