What: Higher-end department store group Fenwick was hit particularly hard during the pandemic, its latest set of results to the end of January show. While stores were shut during lockdowns, the retailer couldn’t rely on an online platform to soften the sales blow.

Why it is important: Pre-tax losses rose to GBP 112 million from GBP 47 million in 2019. Sales plummeted to GBP 140.5 million from GBP 323.7 million.

Digital ambitions are now key to grow and around 80% of Fenwick’s ranges were now sold online but the core store ops continue to drive the business.

While the Bond Street store has suffered a slump in footfall because of a lack of office workers and tourists post lockdowns, Fenwick’s other stores have benefited from more people staying local.

Fenwick losses rise as lockdowns hit hard