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Liberty sales 'stronger than last year'

Liberty, the iconic London department store, has reported “strong” sales in July, driven by sales from its Liberty of London own-label brand and womenswear.

Revenues have also been stronger in September against last year, following the launch of the Hermes pop-up store in the scarf hall of the Regent Street store.

In an interim management statement issued by parent company MWB Group today, the group said that “Liberty continues to perform ahead of last year following the strong trading recorded in the six months ended June 30”.

Pre-tax losses for the six months to June 30 were £2.4m, 42% lower than the £4.2m recorded in the same period last year. A positive EBITDA of £30,000 was recorded, compared to a negative £2.7m for the same period last year.

In July, Liberty confirmed that it had begun a strategic review of the business with plans to expand internationally.

The retailer appointed two mergers and acquisitions specialists – Cavendish Corporate finance and Global Leisure Partners – to help it search for new investors or partners.

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