Department store chain bucks the downward trend
Family-run department store chain Fenwick has revealed steady gains in the year to January 28. Turnover for the period increased to£274.7 million, from£264.4 million the previous year. Profit before tax increased to£36.4 million, up from£31.5 million.

The retailer operates 10 stores, with a flagship in Newcastle and outlets in London, Leicester, York, Windsor, Canterbury and Tunbridge Wells. It also operates Bentalls stores at Kingston-upon-Thames and Bracknell.

The retailer acquired the Bentalls chain in 2001, but sold most of the portfolio to Beales and Allders in 2002. Fenwick has escaped the downturn in consumer confidence, felt particularly hard by department stores, such as Beales and Allders. Allders went into administration in January, while Beales revealed in the same month after that its full-year profits had fallen by nearly 75 per cent.

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