Fortnum & Mason reports its first post-tax loss in a decade

Fortnum & Mason has reported its first post-tax loss in a decade after stores were forced to close. 

The department store, nicknamed the Queen’s grocer, has just appointed Tom Athron as its new chief executive, taking over from Ewan Venters.

Suffering: In the year to July 2020, Fortnum’s recorded a £282,000 loss, down from a £9.3m profit the year before

In the year to July 2020, Fortnum’s recorded a £282,000 loss, down from a £9.3m profit the year before, according to Companies’ House filings. 

Sales, which were running at 14 per cent ahead of 2019 levels before the pandemic, finished the year 1 per cent up at £139.2m. 

The firm also took a £2.1m hit on its flagship Piccadilly store and its site in the Royal Exchange, at the heart of the City of London.