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Less is more as Liberty eyes profit

Liberty is expected to move into profit by the end of the year, after clothing and accessories sales helped to push the store's sales up 6.4% to £33.6 million for the year to December 31. The sales boost came despite a 20% drop in selling space. Chairman Richard Balfour-Lynn told Drapers that cutting space by 20% had created a more cohesive environment at the store on London's Great Marlborough Street. He added that a more design-conscious customer and contemporary product had led to a 14% rise in menswear sales, with womenswear and accessories also growing. Pre-tax losses fell to just over £2.2m from £3.2m in 2005, as group sales rose 3.5% to £44m. A standalone store for the Liberty of London own brand is planned by the end of the year.

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