Harvey Nichols’ regional stores enjoy year of growth
HARVEY Nichols’ stores in Manchester, Leeds and Edinburgh, grew sales and profits in the year to the end of March.
Despite what the company directors described as “a continuing backdrop of a weak economy”, Harvey Nichols Regional Stores saw profits rise 10% to £2.2m.
Sales at the high-end department store group were up 1.3% to £55.6m in what represented a “satisfactory trading performance”. Turnover including concession sales rose £1m to £70.5m.
Looking ahead the group said: “The business environment continues to be uncertain but the directors remain confident that the board’s strategy is able to respond to the changing economic condition and that the company will maintain its current level of performance.
“Trading in the first 17 weeks of the new financial year is in line with the board’s expectations. In 2013/14 the company will continue its programme of store refurbishment to ensure that we maintain the highest standards of environment for our customers.”
Around 550 people work at the three regional stores. During the trading period the company said it had continued with an investment programme to upgrade its Leeds store, with a focus on its fourth floor cafe and bar.
