Fortnum & Mason gets a pre-Christmas boost with record sales
Londoners' enthusiasm for posh food continues apace, after luxury food retailer Fortnum & Mason's posted record sales.
In the 12 months to July, total sales amounting to £88m for the period – 19 per cent higher than 2014 and 70 per cent higher than five years ago. In addition, profit before tax was 31 per cent higher than last year.
While the company's main store in Piccadilly continued to perform well, an extra push came from its newer outlets, including a bar and store opened at Heathrow Terminal 5 in September 2014, which has “constantly outperformed expectations”.
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In addition, its new website has managed to attract a large number of new customers, with online sales rising 22 per cent over the course of the year. The store's trademark hampers were a particular winner.
The results set Fortnum & Mason in good stead for a successful Christmas, which is traditionally its busiest period.
“We’re now focused on Christmas of course, and all the signs suggest we are going to have our best festive season on record,” said Kate Hobhouse, the store's chairman.
Meanwhile, the company is continuing to expand, and last month it launched its latest venture – a new restaurant called 45 Jermyn street. The company said this is already trading “ahead of budget”.