Fortnum & Mason saw year-on-year sales rise 17% in the five week leading up to Christmas, with bumper sales of its food and decorations.
Although the retailer saw over 6m shoppers in-store and online over the festive season, a third more than the year prior, CEO of the upmarket department store Tom Athron said “we saw many more customers spending a little bit less” and “trading down”.
The Fortnum & Mason boss also flagged that customers were waiting later to buy gifts this Christmas.
He noted: “It was only after Black Friday that we saw a real uplift in activity, so customers were waiting and being much more thoughtful about their spending.”
Despite this, during the year to 9 July sales jumped 12% to £208.6m.
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Athron attributed sales growth to the business “putting extraordinary food back at the heart of everything”.
The company returned to its grocery origins last year, exchanging its menswear department in Piccadilly for an in-house gin distillery and a range of ‘Gotta Cook’ products, in aims for all of its products to “connect to food”.
Although the business has traditionally attracted international shoppers, it sold more to domestic shoppers for the second consecutive year.
Fortnum & Mason is seeking to “appeal to a British customer base”, and
expand sales across Europe and the US.
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