Liberty records bumper full-year sales and profits

Photo credit: OLI SCARFF/AFP/Getty Images.

Luxury department store Liberty has followed in the footsteps of Harrods and Selfridges in posting better-than-expected sales and profits.

Liberty posted a 5% increase in sales, taking its total up to £74.5m, up from £70.7m, for the year ending January 28.

The retailer secured a total profit of £10.7m for the period, compared to £4.2m for 2016.

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The bumper sales report comes as retailers, in and out of the capital, are facing a tough trading environment.

Liberty reported that footfall was up 1.7% year-on-year, compared to an overall footfall decline of 2.3% in the West End.

During the six months to September, Liberty introduced a new e-commerce platform with the intention of boosting user experience and enhance international exposure. In a Companies House report, it references the new platform as being a key factor in securing bumper sales and profits.

Liberty also attributes the growth, in part, to the attention to adapting consumer trends. The company said: “Liberty is focused on service delivered to ensure that the product provided matches consumer preferences.”

The news comes after it was announced that Liberty ranks within consumers’ top ten favourite places to shop, behind top spot holder Harvey Nichols and high-end department store Selfridges, according to research from Starcount.



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