LBE.L Regulatory News (LBE)

10 Jan 2008 07:01

Liberty PLC10 January 2008 FOR IMMEDIATE RELEASE10 January 2008 LIBERTY Plc: BUSINESS UPDATE AND CHRISTMAS TRADING Liberty Plc ("Liberty"), the AIM-quoted iconic Regent Street emporium, todayreleases its Christmas trading statement and provides a general trading update. Sales during the four weeks to 24 December 2007 were 5% higher compared to thesame period a year ago. The advance was led principally by Menswear, Liberty ofLondon the store's luxury brand, and the Beauty department, all of whichproduced growing sales. Revenue during the post Christmas sales has been at asimilar level to that achieved in the prior year period. Geoffroy de La Bourdonnaye, Liberty's Chief Executive, said: "Given the currenthigh street climate prior to Christmas, this performance reflects theattractiveness and relevance of a cutting-edge, design-led offer, together witha distinct upmarket setting and luxury service standard." "Our Liberty of London luxury branded goods collection continues to perform wellin what is a highly competitive market. We continue to expand our loyal customerbase who clearly recognise that the exclusive experience of shopping at Libertyis getting better every year. Since last Christmas Liberty has added new brandsand services including Le Labo, Murdock men's grooming, a new Champagne Bar, aconcierge desk and valet parking service." While underlying trading over the 12 months to 31 December 2007 has been atsimilar levels to the previous period there has been restructuring expenditureduring the year as well as continued investment in the Liberty of London luxury brand totalling £7 million. These costs will impact the results for the year toDecember 2007. A number of senior management appointments have been made at Liberty followingGeoffroy de La Bourdonnaye's arrival in the Summer as Chief Executive. The keyappointments announced last September are now in place and additionalappointments will be made during 2008 to further strengthen the team and providethe foundations for Liberty's future development. Liberty will comment in more detail on trading when annual results for the 12months ended 31 December 2007 are announced in early March 2008. Ends. Contacts: Richard Balfour-Lynn, Chairman, Liberty. Tel: 020 7706 2121 Geoffroy de La Bourdonnaye, CEO, Liberty Tel: 020 7734 1234 Baron Phillips, Baron Phillips Associates Tel: 020 7920 3161 Nicola Marrin, David Newton, Seymour Pierce Tel: 020 7107 8000 This information is provided by RNS The company news service from the London Stock Exchange