What: During the Christmas period Fortnum & Mason experienced a significant sales increase, with revenue rising by 17% compared to the previous year.

Why it is important: The significant sales increase shows the company’s successful management of inflationary pressures and potential for sustained growth.

The refurbishment of its flagship London store and the reopening of the third floor contributed to a 30% rise in customer numbers, surpassing 6 million visitors. The restart of deliveries to the EU and the overall growth in 2022 boosted the company's performance. Despite facing inflation and increased costs for food and labor, Fortnum & Mason managed to achieve 12% revenue growth and a 23% pre-tax profit increase.

Although online sales fell by 11% compared to the previous year, they still accounted for 36% of retail sales, with plans to consolidate distribution centers to address growing demand. The company's CEO, Tom Athron, expressed confidence in managing inflationary pressures and foreseeing a shift in price increases.

Fortnum & Mason Christmas sales jump 17%