City File: Fashion victim
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.LAURA ASHLEY, the chintzy frock and drapery retailer, is celebrating its 40th anniversary with a tumble in its US profits. Former Walt Disney executive Donna Moore was hired to revive the troubled US business. But after a series of problems she left the group. Now the UK retailing head, Steve Cotter, is clocking up air miles trying to turn things round.
He has a lot of work to do. James Capel reckons the US side lost dollars 12m ( pounds 7m) last year, holding back Laura Ashley's recovery so that it will only be able to report taxable profits of pounds 1.5m. The City is hoping Mr Cotter will have good news. But the pessimists fear the American operation will still be loss making this year, and are reckoning on profits of only pounds 5m for the group. Avoid the shares.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments