Liberty achieves growth in sales and profits

Luxury London department store Liberty achieved a growth in sales and profits in the year ending January 2017 as it managed to outperform the West End in terms of footfall growth.

The iconic store achieved a 5% increase in sales to £74.46m while operating profit was up to £6.38m from £6.16m in the previous year. In its recently filed accounts at Companies House the business said that the store had managed to grow its footfall by 1.7% compared to the West End in general, which had witnessed a decrease in footfall of 2.25%.

During the period the store introduced a new e-commerce platform which it said would help improve user experience and enhance international exposure. At present the vast majority of its sales (£73m) come from the UK with Europe generating £500,000 in sales, the USA £425,000 and Rest of World £475,000.

More recently Liberty has unveiled a completely remodelled and refurbished menswear department on the lower ground floor, which it described as the biggest investment in its 142-year history. Its womenswear departments on floors one and two have also been revamped.