A high-end London department store known for fashion and home furnishings, has reported strong financial results for the year ending 3 February 2024.
The sales of the store, Liberty, increased by 6.7%, reaching £123.9 million, up from £116.1 million in 2023. The company also returned to profitability, with pre-tax profit of £2.5 million, a significant improvement from the £2.5 million loss reported in the previous year. EBITDA saw a notable rise to £11 million, compared to £3.9 million in 2023, though it remains below the £14.4 million recorded in the pre-Covid year of FY20.
Photo: Liberty.
Sales at Liberty's flagship store saw a robust 15.1% increase, totalling £75.4 million, while online sales experienced a slight decline of 3.1%, falling to £43.1 million. The store's own brand, Liberty-branded products, generated £37.3 million in revenue, up from £34.1 million in the previous year. Other brands sold through the store also showed growth, with sales rising from £82 million to £86.6 million.
Strong performances were seen across accessories, home, and beauty products. Overall, the results highlight Liberty's recovery from the pandemic and its continued appeal in the high-end retail market.
Source: www.bigfurnituregroup.com