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Sales and profits up at Liberty

Sales at London department store Liberty were up 5% to £74.5m in the year to 28 January, despite a tough trading environment. 

The retailer said footfall was up 1.7% year on year, compared with a decline of 2.3% in the West End generally.

Gross profit was up 5% for the year to £38.9m, and operating profit was up by 2% to £6.4m. Gross margin remained constant year on year at 52%.

Sales in the UK accounted for £73m, while Europe made up £500,000, the US £425,000 and the rest of the world £475,000.

A new online platform was launched half way through the year to “enhance user experience” and increase international exposure.

Since year end Liberty has embarked on a regeneration of nine departments in just eight months. To read more click here.

 

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