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Latest profit warning leaves fashion, furniture and wallpaper brand hanging low

Shares in wallpaper, furniture, fashion accessories and bed linen brand Laura Ashley (ALY) have fallen by 83% since the summer of 2015.

The share price now trades at 6p following the retailer’s latest profit warning (15 Feb), an alert combined with poor half year results to 31 December.

Amid a consumer spending squeeze, pre-tax profit reduced to £4.3m (2016: £7.8m) on sales of £134.7m (2016: £146m). Profit margins were squeezed by sterling weakness versus the US dollar.

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