Harrods celebrates 15% profit rise
Luxury department store Harrods has revealed that it pre-tax profits rose 15% to £125.3 million last year.
In the year to 28 January, turnover grew by 11% to £651.7 million driven by strong trading at its Knightsbridge store and at its airport outlets at Gatwick and Heathrow. The retailer also developed its online offering and now delivers to more than 30 countries worldwide.
Harrods, which is owned by Qatar Holding, invested £107.8 million in revamping its in-store boutiques including the launch of a new watches emporium and "room of luxury" at the Knightsbridge flagship. It also opened a new distribution centre in Reading.
Earlier this month Qatar Holding announced plans to open a Harrods branded hotel chain.
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