Fortnum & Mason has recorded a spike in full-year profits and its fifth consecutive year of double-digit sales growth.
The British department store group posted a 23% rise in pre-tax profit to £7.6m in the year to July, bolstered by a 14% boost in sales to £113m.
The retailer reported a 17% rise in online sales and shipped products to 120 countries during the period.
Fortnum & Mason opened an outlet in South Korea during its most recent financial year and has three more openings in the country planned for 2018.
The department store retailer’s hamper sales were up 15% year on year, tea sales jumped 18% and its recently refurbished beauty floor posted a 21% like-for-like sales rise.
Products manufactured in the UK comprised 82% of the retailer’s annual turnover.
Chief executive Ewan Venters said: “I am particularly thrilled by the rise in domestic consumers over the past year.
“We are now anticipating a busy and successful Christmas period. In times of uncertainty, customers turn to brands they trust and we have noticed an upsurge in the sales of traditional products recently.
“For example, this Christmas we are seeing a 60% rise in the sales of advent calendars, priced between £6.95 and £125.
“I am pleased that we are able to fulfil our remit to be the traditional home of Christmas, while not losing sight of our restless quest to innovate and remain relevant to customers from home and abroad.”
No comments yet