×
4 663
Fashion Jobs
HOLLISTER CO. STORES
Hollister CO. - Brand Representative, Liverpool One
Permanent · Liverpool
RALPH LAUREN
Sales/Design Professional
Permanent · London
TIFFANY & CO
Operations Coordinator - Old Bond Street
Permanent · London
HOLLISTER CO. STORES
Hollister CO. - Brand Representative, Southgate (UK)
Permanent · Bath
HOLLISTER CO. STORES
Hollister CO. - Brand Representative, Churchill Square
Permanent · Brighton and Hove
COTY
Business Manager - Gucci
Permanent · London
COTY
Account Manager - Fragrance
Permanent · London
COTY
Campaign Art Director Max Factor
Permanent · London
COTY
Campaign Art Director Rimmel
Permanent · London
L'OREAL GROUP
Digital Manager - Professional Products Division
Permanent · London
L'OREAL GROUP
Prada Assistant Business Manager, 1.0, Selfridges London
Permanent · London
EVERLAST GYMS
General Manager - Everlast Fitness
Permanent · SOUTHPORT
EVERLAST GYMS
General Assistant - Everlast Fitness
Permanent · INVERNESS
FRASERS GROUP
Warehouse Supervisor (Evening Shift)
Permanent · SHEFFIELD
BOOHOO GROUP
1st Line Analyst
Permanent · SHEFFIELD
HARVEY NICHOLS
Brand Consultant - Moncler
Permanent · EDINBURGH
BOOHOO GROUP
Procurement Manager (Marketing)
Permanent · MANCHESTER
SUPERDRY
Retail Marketing Executive
Permanent · CHELTENHAM
ABERCROMBIE AND FITCH CO.
Wholesale, Associate Account Executive, Emea
Permanent · London
COTY
Commercial Trade Marketing Manager Beauty
Permanent · London
L'OREAL GROUP
Product Manager - Viktor & Rolf
Permanent · London
L'OREAL GROUP
Prada Business Manager, 1.0, Harrods London
Permanent · London
Ads
Published
Jul 15, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Liberty hit hard by flagship Covid closure, but online booms

Published
Jul 15, 2021

Upscale department store and webstore Liberty has filed its results for the year to the end of January and said that it was "significantly impacted" by the three separate Covid lockdown in the UK that dented footfall to its flagship store in Great Marlborough Street, London.


Photo: Sandra Halliday



It meant the flagship was closed for almost six months of the financial period and even when it was open, restrictions on movement meant that both domestic and international tourists stayed away. Meanwhile, the office workers on which it can usually depend in London's West End were also staying at home.

That said, Liberty Online benefited from the lockdown and the company said it showed strong revenue growth year-on-year. This was enabled by the company’s historical investment in its online infrastructure, “which allowed the business to seamlessly transfer the Liberty product offering onto digital platforms”.

Looking at the numbers, total revenue fell to £55.768 million from £93.138 million a year earlier. Sales per square foot, including concession revenue, at its flagship store fell to £358 from £1,309 as the impact of the store closures kicked in.

EBITDA before non-recurring and one-off items, was a loss of £12.588 million from a profit of £14.442 million a year earlier. But while the company made a pre-tax loss of £1.322 million, that was better than the loss of £6.696 million a year earlier. And it managed a net profit of £2.522 million, again, much better than the loss of £8.342 million a year ago.

Most of its sales growth came via brand new customers that it acquired for its online ops during the period, although it also saw a smaller boost from customers who would have otherwise visited its flagship transferring their spend online.

The company added that it saw strong growth online in all categories with "the most significant" being beauty and home. With most of its customers being forced to spend a large amount of time at home, categories such as homewares, fabrics and replenishing important beauty items were the key drivers of its growth. But it also had a record year for its Liberty advent calendar and added that previous investments to improve the shopping experience for international customers paid off. 

And it didn't see a huge impact from Brexit due to it having been well prepared for the UK's departure from the EU. But it still saw some delay in stock movement.

Copyright © 2023 FashionNetwork.com All rights reserved.