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

By Angela Gonzalez-Rodriguez

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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.

Laura Ashley