Liberty recorded sales up 5% for the four weeks to December 24 but warned that £7 million of restructuring costs and investment in the Liberty of London brand would impact financial results for 2007.
Liberty said that Christmas trading had been boosted by a strong performance on menswear and beauty as well as good sales of its own Liberty of London brand. It added that post-Christmas trading was in line with performance the previous year.
Liberty added that although 2007 performance was broadly in line with the previous period additional costs would impact the full year results to December 31.
Liberty chief executive Geoffroy de La Bourdonnaye, who joined the company last summer, said: "Given the current high street climate prior to Christmas, this performance reflects the attractiveness and relevance of a cutting-edge, design-led offer, together with a distinct upmarket setting and luxury service standard."
He added: "Our Liberty of London branded goods collection continues to perform well in what is a highly competitive market. We continue to expand our loyal customer base who clearly recognise that the exclusive experience of shopping at Liberty is getting better every year."
The department store added that it planned to strengthen its management team in 2008.
You might also like...
New Look to regroup after restructuring debt
New Look’s refinancing, aimed at reducing its long-term debt by 80%, will put the retailer “on the front foot” in tackling its turnaround strategy, executive chairman Alistair McGeorge has told Drapers.
Online growth hits record low in December
Online sales growth in the UK dropped to an all-time low of 3.6% in December 2018, capping a rollercoaster year for the digital sector.
Christmas shoppers bring joy to high street
Multiples and independents have reported better-than-expected sales in December, despite concerns about weak consumer confidence.
Fashion drives Christmas revenue rise at Shop Direct
Group revenue at Shop Direct was up 3.7% year on year for the seven weeks ended 28 December 2018, driven by strong clothing and footwear sales and overall growth at Very.
Have your say
You must sign in to make a comment
Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.