Retailer expects to ride out downturn

Bangalore: Laura Ashley expects to ride out the impact of public sector spending cuts on its promotional activities, which helped the British retailer post a 10-fold jump in first-half profit.

“In uncertain market situation the customers will be looking at smarter buying. So they will look for incentives to buy,” said chief executive Lillian Tan.

The furniture-clothing company, which organises discount sales at its Mega weekends, said it expected continued growth across all product categories.