Harrods shines with strong rise in sales and profits

31 July 2012 10:30

Luxury department store Harrods has defied the doom and gloom sweeping across much of the retail sector by revealing a healthy rise in both turnover and profits.

According to accounts filed at Companies House, the Qatar Holdings-owned retailer saw sales climb 11% to £651.7 million in the year to 28th January, with pre-tax profits up 15% to £125.3 million.

Growth was driven by strong trading at its airport outlets at Gatwick and Heathrow along with its flagship Knightsbridge store, which spent £107.8 million on refurbishing its in-store boutiques over the year. It also opened a new distribution centre in Reading, has developed its online offering and now delivers to more than 30 countries worldwide.