Friday, December 3, 2021

Fortnum & Mason records third year of sales and profits increase

Fortnum & Mason has posted record-breaking sales and profits for a third consecutive financial year, driven by the growth of its online business.

The world-famous heritage department store based in Piccadilly, London, grew its sales by 12 per cent for the year ending July 10, while profits went up by 27 per cent.

Its online business went up by 24 per cent year-on-year – where it is now double the size of what it was three years ago – and sales of the luxury retailer‘s iconic hampers were up 17 per cent.

With Fortnum serving two million customers and delivering products to 128 countries worldwide, the company‘s net profit stood at £6.2 million and net sales at £98.7 million for the year.

The new beauty hall at Fortnum‘s Piccadilly flagship also led to a 24 per cent rise in beauty sales, and while its St Pancras International and Heathrow Terminal 5 stores enjoyed buoyant trading, up 19 per cent and 32 per cent respectively on the previous year.

“We are now anticipating a busy and successful Christmas period,” Fortnum chief executive Ewan Venters said. 

“As always, we expect this to be driven by sales of our world-famous hampers and of our Christmas food range.”

Click here to sign up to Retail Gazette’s free daily email newsletter



Please enter your comment!
Please enter your name here