Last checked at 5 Jan 2009 07:00
FOR IMMEDIATE RELEASE
5 January 2009
LIBERTY Plc:
CHRISTMAS TRADING AND UPDATE FOR YEAR TO
31 DECEMBER 2008
Liberty Plc ("Liberty"), the AIM quoted iconic Regent Street emporium, today provides its Christmas trading and update in advance of the annual results proposed to be issued in early March 2009.
Sales for the first 10 months of the year were ahead of comparative trading levels. Although November's trading reflected the general retailing slow down, sales in December exceeded expectations and almost matched last year's record Christmas as the store cleared its stocks in preparation for a widely anticipated major renovation during January 2009 which will see two-thirds of the building redesigned, re-merchandised and unveiled in February 2009. Trading was also helped by Liberty's newly-launched e-commerce business which exceeded expectations and showed particularly significant growth in December.
Earlier this year Liberty launched its first stand-alone Liberty of London luxury brand store in Sloane Street. Sales from the store have been slower than anticipated while it secures market share and establishes the brand in the current more difficult retail environment.
Liberty will comment in more detail on trading when annual results for the year ended 31 December 2008 are announced in March 2009.
Ends.
Contact:
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, Seymour Pierce. Tel: 020 7107 8000