// Liberty London’s full year sales plunge to £55.77m compared to £93.14m the year prior
// EBITDA was a loss of £12.59m compared to the profit of £14.44m recorded a year earlier
// Liberty London saw strong growth online in all categories with “the most significant” being beauty and home
Liberty London has revealed plummeting sales and footfall after it was hit hard by the three separate and lockdowns implemented since the Covid-19 pandemic started.
According to accounts filed at Companies House for the fiscal year ending January 30, Liberty London said total revenue fell to £55.77 million from £93.14 million the year prior.
Sales per square foot, including concession revenue, at its flagship Great Marlborough Street store fell to £358 from £1309 thanks to the impact of lockdowns which took up around six months of the fiscal year it reported.
Meanwhile, EBITDA before non-recurring and one-off items, was a loss of £12.59 million compared to the profit of £14.44 million recorded a year earlier.
However, while the luxury department store narrowed its pre-tax loss, coming in at £1.32 million compared to £6.69 million the year prior.
It also recorded a net profit of £2.52 million, also better than the loss of £8.34 million a year ago.
Liberty London said of its sales growth came from new customers, particularly through its ecommerce channel.
The retailer added that it saw strong growth online in all categories with “the most significant” being beauty and home.
Categories such as homewares, fabrics and replenishing beauty items were also the key drivers of its growth.