Fortnum & Mason's Performance Indicates Resilience Of Premium Positioning
A leading retail analyst has said that the full-year performance of upmarket retailer Fortnum & Mason, which saw profits rise 26% in the full-year to July 14, indicates the resilience of trading at the upper end of the market.
Emily Salter, retail analyst at GlobalData, was commenting as Fortnum & Mason posted a 12% increase in sales, to £138 million (€161.6 million), with its Piccadilly flagship in London seeing a 6% increase.
"Fortnum & Mason has delivered another year of strong sales growth," Salter commented. "Though total revenue was bolstered by the opening of its new Royal Exchange restaurant in November 2018, it is clear that its premium and unique products enhanced by its strong British identity resonate well with domestic shoppers and tourists, even in the tough UK trading environment."
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