Fortnum & Mason this week reported 25% growth in online sales in what it described as the busiest and most profitable year in its three century history.
The 307-year-old upmarket retailer this week reported sales of £74.4m in the year to July 2014, 14% up on the same time last year. Pre-tax profits of £3.7m were more than double the £1.8m reported last year. Fortnum & Mason is best known for its flagship Piccadilly store, but it also sells online and in its latest financial year opened its first new stores for more than 300 years, at London St Pancras station and in Dubai. Since the year end, a further store has opened at Heathrow Terminal 5.
The annual results showed that hampers and tea sold particularly well, with sales up by 18% and 13% respectively.
Fortnum chief executive Ewan Venters said: “Looking to the future, we know we can’t afford to rest on our laurels. We’ll continue to invest in the business to provide our customers with the best possible experience, in-stores and online, and we’re all set to launch a number of extremely exciting initiatives in 2015 that will, hopefully, see us deliver another set of record breaking results next year.”
He added: “We are thrilled with the figures. The last financial year was a landmark one for us and the new stores at St Pancras, and in Dubai, have both been big success stories. Piccadilly has gone from strength to strength too, and it’s all down to the management and wider staff teams. We have an exceptionally talented group driving the business forward.
“We’re very excited about Christmas, naturally, and all the signs suggest we are going to have our best festive season on record too.”
