// Fortnum & Mason records “successful Christmas” as sales rise across all channels
// The retailer saw sales rise 8% in the five-week period to 25 December 2022
Fortnum & Mason has recorded a “successful Christmas” as customers shunned inflationary pressures to shop at the beloved department store.
The retailer saw total sales rise 8% in the five-week period to 25 December 2022, and up 29% from 2019.
Sales were up 35% year-on-year, with the flagship store on London’s Piccadilly showing a sales increase of 32%.
Fortnum & Mason said over 4.6 million customers were served across all its sites, up 48% from pre-pandemic levels.
Over 1,000 extra staff were recruited across stores and online to support busy trading during the festive season.
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It was a record season for biscuit sales, up 30% from last year with the bestsellers being Christmas Orange & Dark Chocolate and Pistachio & Clotted Cream. Hampers, mince pies, tea and advent calendars all remain firm favourites, showing strong growth.
Despite inflationary pressures in food, energy and labour, as well as ongoing rail strikes and a tightening economy with greater pressures on discretionary spend, the business has continued to deliver on the sourcing, production and delivery of its proposition to ensure a successful trading season.
For the 52 weeks ended 10 July 2022, Fortnum & Mason’s annual turnover was £187 million, up 42% (£55 million) from last year.
The business returned to profitability, at £6.1 million for the period (compared to a £2.7 million loss the previous reporting period), as the UK emerged from lockdowns.
The online business for the full year represented 39% of total sales, up 160% on pre-pandemic levels.
Fortnum & Mason paid staff bonuses in full for the reporting period.
Fortnum & Mason chair, Kate Hobhouse said “I am incredibly proud of our annual results for 2021-2022, and am delighted to be seeing all our hard work pay off amidst a tough economic climate.
“The success of the business is driven by a commitment to mastery and bringing moments of joy into peoples’ lives, especially at Christmas but also throughout the year.
“This is achieved because of the dedication and expertise shown by a remarkable group of staff and suppliers.”
Fortnum & Mason CEO, Tom Athron said “Although there is growing uncertainty over the economic and consumer spending outlook, at Fortnum & Mason we have plenty of exciting plans to ensure that we can continue to bring moments of joy into people’s lives throughout 2023.
“Early Spring sees the launch of our new Food & Drink studio on the Third Floor at Piccadilly, which will be an innovative space for food production, education and events.
“We will also be launching our extraordinary Coronation range so we can join the nation in celebrating His Majesty King Charles III. I’m also excited to welcome back our international customers as the world continues to open up.
“We have a large and ambitious agenda, and I’m excited by the opportunities that 2023 offers our business to continue growing and improving our customer experience both in store and online.”
