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Retailer Laura Ashley posted a full-year loss of almost £10m, due to a drop in home furnishing and online sales, as it said it did not recommend a dividend for the period.
The company reported a pre-tax loss of £9.8m, versus a £5.6m profit for full-year 2018. Total group sales fell to £232.5m from £257.2m a year earlier.
Like-for-like furniture sales fell 9% over the period. Online sales fell to £51.2m from £59.7m a year earlier.
"The last 12 months have proved to be a difficult trading period for the group and indeed for the retail sector as a whole,' said chairman Andrew Khoo.
It added that weak consumer confidence had impacted furniture sales, but that it was adding new contemporary products over the coming months. It said it believed its home furnishings business to now be on an 'appropriate recovery path'.
Laura Ashley added it was pleased with the resurgence of its fashion business, which achieved like-for-like growth of 9.2% over the period.
It said that trading for the seven weeks to 17 August 2019 was performing in line with management expectations.
The firm said that no interim dividend was paid during the year and the board was not recommending payment of a final dividend. No dividend was paid during the year ended June 2018.
At 8:38am: (LON:ALY) Ashley Laura Holdings PLC share price was -0.2p at 1.63p