Regent Street department store Liberty revealed solid Christmas trading this morning, with like-for-like sales up 5 per cent in the four weeks to Christmas Eve.
However, the performance of the post-Christmas Sale has been more modest, with sales flat compared to last year’s Sale period. Luxury retailers generally had a strong year in 2007 on the back of international money flooding into London.
The company also warned that£7 million of restructuring costs will affect its results for the year to December 31, 2007.
The AIM-listed luxury retailer said menswear and beauty drove the growth in pre-Christmas sales, along with the store’s new own-brand Liberty of London. It said that it planned further appointments to strengthen its management team in 2008.
"Given the high street climate prior to Christmas, this performance reflects the attractiveness and relevance of a cutting-edge, design-led offer,” said Liberty chief executive Geoffroy de La Bourdonnaye. "Our Liberty of London luxury branded goods collection continues to perform well in what is a highly competitive market.”
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