Dec
Retail Strategy
Selfridges & Co vs. Liberty & Co
A comparison of two major high street department stores
Amir Gill, Emily O’Donnell, Hajarah Namulondo, Myles Atkinson
10
Table of Contents
Executive Summary ........................................................................................................... 3
Introduction ......................................................................................................................... 4
External Environment ....................................................................................................... 5
External macro environment..................................................................................................... 5
Political, legal, government environment ................................................................................. 5
Economic/ Financial environment............................................................................................. 6
Marco Social/Cultural Environment .......................................................................................... 6
Technological environment ....................................................................................................... 8
Market Competition .................................................................................................................. 8
Internal Environment ....................................................................................................... 9
Retail Mix ................................................................................................................................... 9
Resource Mix ........................................................................................................................... 12
Recommendations........................................................................................................... 15
Bibliography ...................................................................................................................... 16
2
Executive Summary
The external environment affects how Selfridges and Liberty are able to trade
their products. Having no control over such factors, the stores have to work
around these influences and compete more specifically through their
positioning. When the macro-environment changes – whether it is for better or
for worse – it will essentially affect the stores equally because both are
UK-based stores. However, the two retail stores have different aims and
therefore go about this external-environment differently in order to stay in line
with the desire of their specific target audience; while Selfridges tends to be
the more busy, ‘up-and-coming’ and modern-technologically focused of the
two, Liberty tends to focus more on conserving their image and reputation rather than getting too caught up in the macro-economic factors.
Internally, the retail mix reflects the brand identity. Selfridges targets the wide
audience, with their prime location and more general assortments; the store
therefore communicates an energetic and busy feel. On the other hand, Liberty
positions itself to the specific, premium, and strictly high-end market; the store,
therefore, has a relaxed, ‘living room’ ambience. Selfridge’s branding review in
the 1990’s, found them competing directly with Liberty for premium stockists.
Nevertheless, Liberty is still renowned for their excellent ties with designers
and has access to more exclusivity in the designer-market.
After analysing both of the strategic aims of the two stores through their
external and internal opportunities. It was found that Selfridges should
endeavour to broaden its target market to become more resilient to market
fluctuations. Both stores should embrace the multi-cultural UK society by
incorporating religious celebrations from minority groups into the business
model. They should continue to develop their USP to improve differentiation
and maintain their market share. Both stores should also continue to develop
their integration of technology by incorporating new payment methods and
continuing to develop their online communication
3
Introduction
The aim of this report is to compare two of the UK’s leading department stores
by first analysing their external environment and how each organisation
accommodates issues outside of their physical control. From here we will look
into the internal environment and what strategies each organisation uses to
differentiate from its competitors and maintain market share. Once these areas
have been analysed we will have a thorough understanding of the industry,
which we can utilise to create a definition of the businesses and put forward
recommendations for the future.
The first store contained in the report is Liberty & Co, which was founded by
Arthur Lasenby Liberty in 1875. The store grew rapidly selling ornaments,
fabric and objects d'art from Japan and the East. By 1885 the store had
expanded into fabric, carpets and furniture, and become one of the most
fashionable places to shop in London. The store has since expanded to sell
cosmetics, accessories and books. Since 1988 Liberty has sold Liberty
branded products in Japan through selected retailers as well as providing
signature Liberty fabrics to fashion houses and manufacturers worldwide.
The other store for comparison is Selfridges & Co founded by American H.
Gordon Selfridge. The key philosophy was to make shopping a fun adventure
rather than a chore. Many of the ideas first displayed at Selfridges are used
uniformly today by its competitors, such as touchable merchandise. The
flagship store is accompanied by two Manchester outlets, and a Birmingham
outlet, with land and planning permission held in Glasgow.
4
External Environment
External macro environment
Although the business may have no control over the environmental factors
covered in PESTLE, the business can ensure that they are positively
monitored in order to keep their target audience or markets positive.
Liberty and Selfridges has corporate social responsibilities that the businesses
follow with aims to be an environmentally responsible companies, working with
customers, people, partners, suppliers and communities on combating climate
change, managing waste, safeguarding natural resources and trading
ethically.1
Political, legal, government environment
The political environment has a huge influence upon the regulation of
businesses, and the spending power of consumers in many ways. For
example regulation and de-regulation trends, social and employment
legislation, tax policy, and trade and tariff controls.
Visa restrictions or delays are one political factor that is affecting the way
Liberty and Selfridges trade their products. Datamonitor 2010 suggests that
the UK could be losing potential foreign visitors to other European countries
due to visa restrictions. Tourists visiting Europe have to apply for a separate
visa for the UK, which could put off potential visitors. If the holiday visa
application form were made simpler and easier for tourists, we would expect to
see visitor levels and tourist expenditure rise.
Trade and tariff controls are also making it harder for organisations to trade, as
countries can make it difficult for firms to import or export products by imposing
restrictions and interfering with the way businesses operate. Regardless of the
above the UK import in clothes has been rising since 2005 (see appendix 10).
The idea of VAT moving to 20% would not have a major affect on sales.
However as this is likely to be part of regaining economic stability, it will affect
the businesses profits. That is to say because of the currently economic
condition (consumers are already facing a strong curb on liquidity with pay
effectively lower than previous years) the VAT increases will draw consumers
away from visiting the business in favour of shopping online. Online retail
improved 14.6% in January year on year with high street shops only reporting
1.2% improvement on average. This does indicate a consumer trend towards
increased online retailing.2
The reduction of disposable income such as the ending of EMA (Education
maintenance allowance), the proposed increase in student fees and the
restructuring of income tax will affect the businesses operation. Ending of EMA
1
2
http://www.selfridges.com/en/StaticPage/Environment/?msg=
Datamonitor
5
and increasing student fees will affect the way the organisations target group
spends on products; this will mean that they will not be able to afford
expensive products from bigger department stores resulting in the purchase of
cheaper substitute products. Furthermore, disposable income is at its lowest
level for a decade, people have far less of that money to spend each month
after they have paid their overheads even though the average household
gross income has climbed over the past decade from £34,796 to £53,8353.
Economic/ Financial environment
One of the factors that affect both Selfridges and Liberty’s consumers is the
level of real disposable household income. This is the most important factor in
determining the way we spend (Appendix 1). John Maynard Keynes developed
a theory of consumption that focused primarily on the level of
people’s disposable income in determining their spending. The rate at which
consumers increase demand as income rises is called the marginal propensity
to consume. In the last three years the economic environment has been
affected by the economic collapse. This has resulted in many people losing
their jobs or a decrease in their hours of work, as a result less income was
gained in most households, which meant that most people had to spend less in
order to be able to pay off their overheads. The above is known as income
elasticity demand; this measures the way businesses respond to the quantity
of products demanded to the change of consumer’s income. The more a
consumer makes (income elasticity), the more they will demand a desired
product and will be willing to pay more for it. (Appendix 2)
Regardless of the recession, Selfridges and Liberty reported an increase in
profits at the end of 2009, where Selfridges’ sales rose by 6% to £809 million
and profit grew by 8% to £88.1 million in the year ended 31 January 20094
where as Liberty 20% revenue uplift to £59.6m against £49.9m last year, and
flagship store sales were 18% higher at £37.3m against £31.5m a year
earlier.5
The emergence from recession will affect the business in different ways; the
main problem that the businesses will face is the illiquidity of the market, i.e.
there is very little available cash in the market. That’s to say the banks will not
be able to lend money to businesses or consumers and as a result plans for
future expansions or product innovation will be affected.
Marco Social/Cultural Environment
Consumer’s religious beliefs can influence the way they perceive the business.
3
4
Datamonitor
http://www.selfridges.com/en/StaticPage/Corporate/?msg=
5
http://www.liberty.co.uk/pws/images/investor/Dec_2009.pdf
6
The New West End Company reported that Middle Eastern shoppers spent
£200m in the six week run up to Ramadan in 2009 and it expects this to grow
by 20% in 2010, making this customer base crucial for department stores’
sales over the summer period.6
Datamonitor claims that Ramadan enabled Selfridges department store to put
pressure on its competitors such as Libertys, Harrods, Harvey Nichols and the
rest of the high street by bringing their summer price cut period forward in
order to clear stock and make room for full price Autumn/Winter ranges, which
Middle Eastern shoppers traditionally prefer to buy into. Liberty did not pay
attention to the Ramadan period as they concentrated on traditional trends,
which resulted in opportunity costs.
The prohibition of the Burka in France could benefit Liberty and Selfridges,
that’s to say under the French president’s ruling, Muslim women are now
banned from wearing the full body veil with either a lace eye window or a
full-face veil with a slit for the eyes. (Appendix 7) This could augment the
number of Middle Eastern tourists visiting the UK every year, which can enable
Selfridges and Liberty to boost sales by stocking the Burka.
Another social economic factor that can have an impact on the demand for
Liberty and Selfridges products is consumer’s life style, for example some
consumers prefer paying someone to shop for them instead of them walking
up and down the store. Datamonitor (2010) reports that over the last 10 years
personal shopping has become an important service for department stores to
offer customers, with older shoppers remaining a key customer base for
department stores – in 2010 55+s made up 42.9% of all department store
shoppers. With women working longer hours in more professional roles this
demographic has a lot of spending power. Selfridges & Libertys have always
got professional stylists on hand to offer fashion and beauty advice to
customers, advising them of style, fit, colour themes and other key trends for
the season. They usually offer this service for free, which makes the
customers feel looked after which results in their loyalty to the business.
Furthermore, adding entertainment and lifestyle pleasures such as
restaurants, nail bars, spas, hair salons and personal shopper suites can keep
customers in store for longer by enabling shoppers to enjoy different types of
leisure entertainment under one roof. Both Selfridges and Liberty have a
variety of food and drink formats such as self-service cafés and more formal
restaurants, meeting the needs of shoppers in a hurry or those wanting a
leisurely experience. (See Appendix 9)
6
http://www.newwestend.com/
7
Technological environment
The technological environment analysis details the changes in technology,
which may perhaps force the business to shift towards the changes or away
from the changes. The rapid growth in technology has dictated the way
Selfridges and Liberty operate that’s to say both stores have an online
presence (Appendix 3&4). Online presence has enabled the businesses to
reach a large number of existing or prospective consumers at any location or in
the comfort of their own home through click and deliver (Appendix 3&4).
Although the use of online shopping has had an advantage for the businesses
in terms of gaining consumers, this can also affect the businesses profits. If
consumers come in the store to purchase one intended item, their physical
presence in the store could attract them to buy more items than they would
have using online shopping. An introduction of click and collect will enable both
stores to combine the convenience of online shopping with getting their
consumers in store to collect, encouraging impulse purchases.
(Datamonitor2010).
Since both department stores are in one of the UK’s biggest areas for tourists
with a high footfall, it is essential that stores cater for their needs at all times
especially during peak visiting periods to ensure potential sales are
maximised. In June 2010 Selfridges started to accept the CUP card – China’s
sole bankcard that many other UK department stores including Liberty
currently do not accept (Appendix 5). Selfridges Managing Director reported
that the store accepting China’s sole bankcard has increased the number of
Chinese tourists by 130% at the luxury department store in its 2009/10
financial year. If Liberty wants to maximise sales, the store has to keep up with
the rapid growth in technology in order to keep ahead of competitors. Liberty
can prepare for the 2012 Olympics when large numbers of tourist are expected
to visit the UK for the games, which will give the store an opportunity to gain
new customers.
Other technical advances have enabled both stores to social network with
consumers through the use of sites such as Facebook, Twitter, Blogging,
regular newsletters, and interactive display windows. These are a great
method of engaging with the next generation of shoppers and building
customer loyalty, while functionality improves the accessibility of the brand and
can encourage sales if the purchase process is easy for the customer.
(Appendix 6)
Market Competition
The retail industry is renowned for being one of the most competitive industries
to operate in due to fluctuating consumer demand, seasonal trends, and the
sheer number of competitors. Direct competitors for Selfridges and Liberty
would be other established department stores such as Harvey Nichols, John
Lewis, Debenhams as well as specialist department stores Dover Street
Market and the popular Harrods organisation. With the main indirect
competition coming from Primark and Topshop who are located in the
8
immediate area.
Selfridges can mitigate some of this competition due to the range of
merchandise it supplies being far greater than some of the competition such as
Liberty and Dover Street Market, where these stores have opted to be more
specialist in order to gain competitive advantage. The key to maintaining and
increasing market share in the central London retail industry is differentiation
and brand image. Selfridges aim to appeal to a younger market with a high
disposable income through the use of an energetic and metropolitan corporate
image, the core of which is the pantone 109 colour scheme.
Liberty differentiates itself by creating an individual in store aesthetic and
exploits its history as a leading retailer to convey is corporate image, with the
use of deep purple, and earth tones. A strong brand identity will ensure market
recognition and therefore greatly help in retention of market share as the
organisation becomes part of the consumers evoked set. Both organisations
further differentiate themselves from the immediate competition in the Oxford
Street area by using a higher pricing strategy than that of John Lewis,
Debenhams and indeed Topshop and Primark. This strategy seems to payoff,
as figures from 2009 show that despite having far fewer outlets than their
rivals, Selfridges and Liberty generated sales of £94.5m and £32m on average
per store, respectively (Mintel), putting them ahead of the likes of Harvey
Nichols and Debenhams.
Internal Environment
Retail Mix
The general merchandise assortment within Selfridges is very wide, carrying a
great depth in assortments of luxury brands, often arranged into separate
boutiques within each department. On the other hand, the merchandise
assortment within Liberty is not quite as wide, and the depth is a bit shallower.
For example, within the Selfridges clothing department – consumers can shop
for Topshop/Topman (small-medium width, small depth) additionally, designer
shopping – like Burberry (large width, large depth) is also an option. However,
in the Liberty clothing departments, it is designer selections (large width, small
depth). Liberty holds a renowned haberdashery, one department Liberty has
that Selfridges does not.
9
General Merchandise &
Service Assortment
Department/Product/Service
Clothing
Accessories
Cosmetics
Footwear
Lingerie
Furniture
Children’s Clothing
Toys
Cookware
Restaurants
Spa
Stationary
Jewellery
Sweets
Books
Travel – Agency & Luggage
Electronics
Gallery
Seasonal Section
HMV
Haberdashery
Selfridges




















Liberty














The pricing position within Selfridges is mid-high, with a tendency towards
high. At Liberty, the pricing position is strictly high. A wider range of consumers
could walk into Selfridges and buy merchandise, whereas the market for
Liberty is placed at a higher and more specific/prestigious level. In Liberty, the
prices were not as flaunted and were mostly hidden; the target market for
Liberty is less concerned with the price and more concerned with the exclusive
experience and premium goods/services.
The location of Selfridges is very primary – Oxford Street – where it is hard for
consumers to miss and flowing along with the many shops located on Oxford
Street. Conversely, Liberty is in a secondary location – Carnaby Street – set
back and would not be easily seen or found by a consumer who was not
specifically looking for the store. Strategically, this location does work for the
type of merchandise and more specific target market at Liberty – where the
majority of the consumers go out of their way to get the premium selections
available there.
10
VS
Within Selfridges, facilities offered include parking (where your purchases can
be delivered to the car), doormen, restaurants, spa, the option for a personal
shopper, a barbershop and a gallery. Following the ‘exclusive’ description of
Liberty offerings, the facilities include the option for a personal shopper, a
barbershop, restaurants, champagne bar, and a gallery. It seems in Liberty
their offerings are more premium and focused, while Selfridges has more
offerings, they are broader and there seems to be less of a premium feel. The
escalators are the main way for the consumers to get from one floor to another
in Selfridges, whereas in Liberty the stairs were a part of the ambience, with
the option to take the elevator as well. The escalator facilities within Selfridges
are clearly built for the massive amounts of people that Selfridges attracts,
whereas the stair/elevator facilities within Liberty is left the way it has been for
the traditional and ‘living room’ feel it seeks to convey.
VS
The ambience/image given off by Selfridges’ general setup and
communications is a crisp energetic, professional/sophisticated, and high-end
feel. Selfridges uses the original features of the building to its advantage; the
original columns create a classical feel for the store, while the bright LED
lighting keeps it modern at the same time. In addition, Selfridges has
extravagant seasonally influenced window displays that are mainly directed
towards women; these displays attract much attention from passer-bys.
Selfridges’ store layout is very strategic; for example, the perfume counter is
placed front and centre on the ground level and all the newest merchandise is
put on display. The displays are crisp, bright, and are focused on showing the
product as best as possible. In Liberty, the ambience is more traditional, where
the features of the store communicate its’ quality, premium offerings, and
exclusiveness.
11
VS
Libertys doesn’t communicate its’ brand as much as Selfridges – a customer
could walk the store without noticing the brand. The store is comfortable to
browse and their focus is not on throwing advertisements in the faces of the
consumers, but to create an at ease environment for the shoppers; its’ three
open spaces, surrounded by smaller rooms make the experience more relaxed
and “at home.” The displays give a ‘classic shop’ feel and they are not only
focused on displaying the product, but also making the store feel like a living
room rather than a store. Both department stores communicate quality with
their products; the difference is the fact that Libertys holds more premium
designer product that cannot be found in Selfridges. Additionally, the shopping
bags of Selfridges communicate their youthful and energetic, yet still
professional and sophisticated approach, whereas Libertys shopping bags
communicate their more discreet, laid back, and premium approach.
7
VS
8
The layout in terms of signs and services within Selfridges is much more clear
and accessible. In Liberty, the fire exit signs are clear; however, Selfridges’
signs make it much easier to find an extinguisher, A.E.D, and even the
bathroom facilities. With this information, it is obvious that Selfridges is the
more ‘tourist’ market driven of the two places; it is large-scale and attempts to
attract the bulk of the public, while Liberty wants to appeal to the keen, specific
and up-scale shoppers.
Resource Mix
The competition for land is unlikely to be a factor for these two central London
stores, as the are unlikely to physically expand there central London presence.
Liberty has its single store on Carnaby Street, Whilst Selfridges has a primary
location on Oxford Street. More of a concern will be the rising business rates of
the area, and property rent (should they not already own the premises) given
the primary location of the two stores. Selfridges and Liberty compete directly
7
8
http://domesticali.typepad.com/.a/6a00e54fad366988330120a4c8a478970b-500wi
http://www.juliegartha.com/wp-content/uploads/2009/11/Selfridges-1024x768.jpg
12
for premium stockists in order to attract the lucrative young, high-spending
customers. Selfridges underwent a huge branding review in the 1990’s
investing £160million9 in redesigning the brand identity, transforming the
image from dowager, to metropolitan and energetic. This brought them into
closer competition with Liberty who were already stocking premium brands,
but with a more conservative identity. The battle for premium stockists is
mainly fought between the fashion buyers of each store and the relationship
they can create with the stockist. Although the new identity of Selfridges and its
larger retail space has enabled them to secure a large width of merchandise
assortment in each retail sector, it is argued that Liberty actually has a better
relationship with its stockists. This is shown in the fact that it is often Liberty
who is chosen to stock Limited Edition products such as the To Ki To
collaboration with Barbour. Liberty is also able to negotiate a better price for
the customer in its store, in comparison to Selfridges where the price for
designer products is often slightly higher, for example a men’s Burberry
London Pea Coat retails for £695 at Liberty and in the Burberry Store but at
Selfridges it retails for £725. That said, Selfridge can benefit by stocking a
greater width of brands due to its greater size, and can also boast of
collaborations with key brands, for Selfridges 100th birthday brands such as
Converse, Fender, Ralph Lauren, Coke, Blackberry and Levi all released
birthday editions in Selfridges signature pantone 109.
During a recession it is essential that both organisations retain and develop a
quality workforce in order to adapt to more intense competition for the
disposable income of its customers and indeed retain its customer base. In
order to attract and retain skilled workers both organisations offer a training
scheme and staff discount package, with Liberty offering employees staff
discount, online appraisal to increase chances of promotion from within and
encourage a strong work ethic, in house training, and probably most
importantly a 3% commission scheme to encourage salesmanship and
retention of its staff10. Liberty was voted ‘best retail store in London’ by Time
Magazine, which may also attract people to work there.
Selfridges however seem to be pursuing the development and retention of staff
more aggressively, with an estimated 4000 employees in its London store
alone (Fame, 2010). They too offer staff discount but also offer a health
scheme, a pension scheme, performance and loyalty bonuses, long holiday
entitlement that increases with loyalty to the organisation, they educate their
staff heavily by providing weekly training workshops and encouraging and
supporting employees through further education11. It is therefore clear
Selfridges is trying to market itself as a ‘job for life’.
However despite Selfridge’s greater width of career benefits it could be argued
that Liberty’s benefit package is more effective at motivating its workforce as
during the 2009 recession Selfridges sales rose by 6% and its revenue by 8%
in comparison to Liberty where sales were up 18% and profit rose by 20%12.
9
http://www.brandchannel.com/features_effect.asp?pf_id=5
www.liberty.co.uk
11
www.selfridges.com
12
datamonitor
10
13
In 2003, the Weston Group bought Selfridges for £600m, which benefits from a
wide industry spread from biscuits to clothing. This wide spread allows
Selfridges to benefit from reduced financial risk as well as economies of scale
as the group also owns retailer Brown Thomas of Ireland. The Weston Group
shelved plans to invest in developing more locations for the Selfridges brand in
favour of renovating the flagship store in 2003, as it was recognised that this is
the main source of revenue for the brand.
Liberty & Co operates as an organisation traded on the FTSE 100 with a pre
recession stock high of 128.69 per share13. However this form of generating
investment revenue obviously poses significant financial risk to Liberty as they
are more greatly affected by changes in the global economy. Liberty attempted
to create satellite stores by opening a Liberty of London on Sloane Street in
2008 but this store was closed by June 2009. The Liberty of London label has
remained active through other ventures, such as discount collaboration with
American discount fashion chain Target.
Selfridges and Liberty are increasingly using technology to improve the retail
experience and communicate with their customers. Liberty lead the way by
introducing the first interactive display window in collaboration with leading
fashion blog ShowStudio where customers and passers-by were able to
photograph themselves and the winning outfit from the campaign received a
prize. For the current Christmas season Selfridges created an interactive
window where passers-by could interact with the new Xbox Kinect. Both stores
are also increasing the efficiency of the purchase process by introducing Chip
& Pin throughout their stores as well as incorporating e-commerce into the
business. Undoubtedly the next advancement will be the introduction of RFID
technology into the payment process, which will speed up point of sale
transactions and reduce queue times, making purchasing more efficient for the
consumer. This technology is already available when using BarclayCard in
some retailers such as Prêt-A-Manger.
Liberty and Selfridges assort their merchandise in contrasting manners.
Selfridge prefers to use rails and hang key items for clear display, whilst also
drawing attention to these key pieces. In contrast Liberty opt for a more
aesthetic approach, incorporating the merchandise into the store by displaying
items on tables and in cabinets with less use of the traditional rail, and very few
manikins. And in both stores, each department is divided up to differentiate the
different product offerings on sale and to make each section of the store look
unique. There is no definitive answer to which use of resources is more
effective as its felt each strategy will appeal to customers on an individual
basis, and improve the stores differentiation.
13
Financial Times
14
Recommendations
In summary of this report, it is felt that Selfridges needs to broaden its target
market due to the reduction of disposable income in its target ‘youth’ market,
from factors such as the VAT increase, restructuring of tax brackets, ending of
EMA and increase in tuition fees. This point is reiterated by the comparative
sales percentages for 2009 where Liberty performed markedly better than
Selfridges due to the financial resilience of its customers.
The report also identifies that given that the UK is one of the most multi-cultural
societies in the world, both organisation are doing very little to exploit this to
their advantage. The organisations need to move away from a traditional
western retail calendar based on Christian holiday periods towards a more
integrated calendar that incorporates holidays and celebrations from all of the
leading religions and cultural groups, as demonstrated by Selfridges success
with Ramadan.
Both stores can secure market share by continually creating a unique selling
point through differentiation from competitors. Selfridges, given its exciting
brand image and superior size and service offering should aim to communicate
itself as an experience-shopping destination. Where customers can spend the
whole day being groomed in the spa or hairdressers, perusing the
merchandise assortment, and lunching in one of the many eateries before
retiring for the evening with ingredients purchased from the food hall. Whereas
Liberty given it’s brand history and reputation for premium service should
market itself as a destination store where customers can utilise the premium
service and knowledge available from employees and benefit from the
exclusive products that Liberty can offer.
Liberty & Co operates a risky investment strategy by flotation on the stock
market, in order to spread risk in the emergence from the recession, and
create brand awareness early in a younger market (it’s future customer base)
Liberty & Co should aim to develop the almost defunct Liberty of London label
through specific collaborations with more affordable or more widely recognised
brands.
In view of the Olympics both organisations should aim to increase their online
presence so as to fully exploit their wider international recognition, and
increase payment flexibility through the introduction of RFID technology and
major payment methods such as Selfridges accepting the CUP card.
Selfridges should also aim to introduce a commission scheme as this is
undoubtedly helping Liberty to maintain its growth despite the recession.
15
Bibliography

Unknown. (2010). Selfridges Brand | Retail Clothing |
brandchannel.com. Available:
http://www.brandchannel.com/features_effect.asp?pf_id=5. Last
accessed 13th December 2010.

Levy, M. Weitz, B (2008) Retail Management. 7th Ed. McGraw Hill

Berman, B. Evans, J (2006) Retail management a Strategic Approach,
10th Ed. Prentice Hall

McGoldrick, P. (2002) Retail Marketing, McGraw Hill

Datamonitor Research Store, (2010). UK Department Stores 2010.
[online] Datamonitor. Available from:
<http://www.datamonitor.com/store/Product/toc.aspx?productId=DMVT
0658> [Accessed 16/11/10].

Fame, (2010). Detailed Information on UK and Irish Companies. [online]
BUREAU VAN DIJK. Available from:
<https://fame2.bvdep.com/version-2010126/Report.serv?context=L0KX
62PRD7CYPLL&_cid=134> [Accessed 28/11/10].

Liberty PLC, (2009). LIBERTY PLC: FINAL RESULTS FOR 12
MONTHS TO 31 DECEMBER 2009. [online] Available from:
<http://www.liberty.co.uk/pws/images/investor/Dec_2009.pdf>
[Accessed 27/11/10].

Mintel Oxygen Report, (2009). Table listing for Department Store
Retailing - UK - January 2007. [online] London: Mintel International
Group Ltd. Available
from:<http://academic.mintel.com/sinatra/oxygen_academic/search_res
ults/show&/display/id=220227/displaytables/id=220227> [Accessed
16
05/12/10].

Selfridges & Co, (2010). The Business. [online]
Available from:
<http://www.selfridges.com/en/StaticPage/Corporate/?msg=>
[Accessed 25/11/10].

Selfridges & Co, (2010). Environment. [online]
Available
from:<http://www.selfridges.com/en/StaticPage/Environment/?msg= >
[Accessed 25/11/10].

(2009). Liberties Shopping Bag. [online image]
Available from:
<http://domesticali.typepad.com/.a/6a00e54fad366988330120a4c8a47
8970b-500wi> [Accessed 06/12/10].

(2009). Selfridges Shopping Bag. [online image]
Available from:
<http://www.juliegartha.com/wp-content/uploads/2009/11/Selfridges-10
24x768.jpg> [Accessed 07/12/10].
17