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BUZZ-Laura Ashley: hits 5.5-yr low after warns FY profit to miss target

Reuters - UK Focus

** British fashion and homeware retailer Laura Ashley (LSE: ALY.L - news) shares down 6.6 pct at 5.5-yr low

** Says net pretax profit for FY 2017 will fall below market expectations; co among top losers on LSE

** Co cites softening market and rising cost pressure; sees continued sales and margins challenges

** About 7 times 30-day average volumes traded by 0825 GMT

** Up to Wednesday's close, stock had fallen 6.3 pct YTD vs a 7 pct fall in the FTSE All Share General Retailers Index ; co biggest loser on index