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Written by Katie Allen
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Sunday, 06 June 2010 06:47 |
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 • Laura Ashley like-for-like sales up 5.3% in February to May
• John Lewis sales rose by a quarter in last week of May
Laura Ashley has defied the gloom on the high street, reporting a rise in sales today and predicting more growth in the months ahead.The business, which has 229 stores and a growing website, said like-for-like sales rose 5.3% between February and the end of May, thanks in large part to a leap in online business. The furnishings and fashion group, best known for its floral prints, painted an optimistic outlook although it conceded there were still pressures on consumers.
"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," it said in a trading statement.
Laura Ashley shares closed 1p up, or 7.27%, at 14.75p after the company predicted full-year trading will be in line with expectations.
The group said online sales were up 74% in the first four months of its financial year and although mail order sales fell by 26%, its combined direct sales business rose 42%.
It also expanded overseas ventures with a new partner in South Korea and now has franchise stores selling its quintessentially British designs in 26 countries.
At home, the company that began life when Laura and Bernard Ashley started printing fabric on their kitchen table in 1953, has benefited from a revival of florals over the last year. That wave of nostalgia has also buoyed up Cath Kidston's chintzy empire, which was valued at around £100m when she recently sold a majority stake to the US private equity firm TA Associates.
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Written by By Brian Schmitz
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Tuesday, 11 May 2010 06:47 |
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ATLANTA — For a team driven to be the last men standing, the Orlando Magic have hung around the least amount of time of any playoff entrant. It’s getting so you can see Dwight Howard more on TV in his movie trailers or in his cell-phone commercial than in a series.
It’s not as if the Magic don’t enjoy their job or don’t play well with others. They just have been that frighteningly efficient and dominant, more so than any of their contending rivals.
On Monday night, the Magic made short work of the Atlanta Hawks with a 98-84 victory at Philips Arena, eliminating them in four games to set up a repeat appearance in the Eastern Conference Finals.
The Magic are halfway home to winning the franchise’s first title, looking poised and purposeful to complete the task after beating a 53-win team by 43, 14, 30 and 14 points.
"You never know," coach Stan Van Gundy said. "We’re trying very hard to win one. But so is Cleveland, so is Boston and Phoenix and the Lakers. Our guys are doing everything they can to get that done. A lot of teams are. We can’t get carried away by the margins (of victory)."
It was their second consecutive sweep of the postseason, coming on the heels of a broom-job against the Charlotte Bobcats.
The Magic have played the minimum of eight games, a league requirement, although you could have made a case to evoke the mercy rule against Atlanta. The Magic thumped the Hawks by a combined 101 points — the most in the history of four-game sweeps.
"I don’t think you expect that," Van Gundy said, adding he was surprised "to be able to sweep them the way we did."
Orlando again must await the outcome of another series — the outcome of the Cleveland-Boston match-up — as it did after ousting the Bobcats. It might be another long wait. The next game will be Sunday at the earliest, Tuesday at the latest.
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Written by By Bryan Hoch
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Monday, 10 May 2010 00:55 |
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BOSTON -- Less than three weeks after Alex Rodriguez crossed over Dallas Braden's mound and dismissed him as "a guy who has a handful of wins in his career," the Yankees slugger tipped his cap to the left-hander's biggest victory of them all.
Braden pitched the 19th perfect game in Major League history on Sunday, in a 4-0 blanking of the Rays, needing just 109 pitches to retire all 27 Tampa Bay batters.
Rodriguez opened the weekend at Fenway Park by saying that he would not be drawn further into a war of words with Braden, who had criticized A-Rod again in a recent interview with the A's. He then prepared to close the three-game series against the Red Sox by praising him.
"I've learned in my career that it's always better to be recognized for some of the great things you do on the field," Rodriguez said in a brief statement during batting practice. "Good for him. He threw a perfect game, and even better he beat the Rays."
The perfecto bid was a topic of discussion during Yankees manager Joe Girardi's pre-game availability with reporters, some of whom were checking for updates on their wireless phones.
"I hope he gets it," Girardi said, as Braden prepared to head into the ninth inning. "A perfect game is an amazing feat. I've had the chance to watch one and catch one. I don't have any hard feelings toward Dallas Braden.
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