Fortnum & Mason continued its transformation from preserve of the super rich and tourists to grocer for the everyday foodie with “strong” annual results.
Turnover grew by £11m, up 5%, to £239m in the year ending July 2025. Pre-tax profits surged by 61% to £15m.
The spike was largely due to the absence of one-off costs incurred in 2024 following Fortnum’s investment into a new distribution centre in Corby.
However, the business said it had seen growth across all of its channels following significant investment into its Piccadilly flagship store and a more “streamlined” online offer during the year.
As part of CEO Tom Athron’s ongoing strategy to make the 319-year-old grocer more “relevant” to everyday shoppers, Fortnum’s launched its first-ever loyalty scheme, called Friends of Fortnum’s, in June 2025. It was accompanied by a wider overhaul of Fortnum’s critical IT infrastructure aimed at improving its use of data and technology across its e-commerce site and supply chain.
Both had helped create a “more streamlined” digital experience for shoppers, which had boosted sales.
Fortnum’s also invested significantly in its Piccadilly flagship store, with the ambitious construction of a new ‘Double Helix’ staircase at its centre, aimed at improving the flow of shoppers around the store.
The improved annual results were boosted by “robust” Christmas food sales, which grew by 16% year on year across all channels during the five weeks to Christmas Eve. Like-for-like stores sales were up 7%.
Online sales recovered significantly following a disrupted 2024, where Fortnum’s was forced to limit online orders due to supply struggles, and were up 23% during the period.
The retailer had dispatched nearly 500,000 Christmas packages to 73 countries as far away as Fiji during the period, it said. Its Lossus biscuits range, the Queen Victoria Christmas Pudding and Christmas Orange and Dark Chocolate Biscuits were among the bestsellers.
“Although it has been a year of increasing uncertainty and challenges for retail domestically and globally, I am incredibly proud of our team who have helped deliver another year of strong growth for Fortnum & Mason,” Athron said.
“We have made significant and lasting investments into our physical and online estate and have had a major focus this year on our supply chain and distribution capabilities.
“It’s wonderful to be able to report such strong results for the full year and for Christmas, but more importantly to see that the long-term investments we have made are having a tangible and positive impact on our customer experience all year round and particularly over our busiest peak period, which has been reflected in improvements across the board in our customer satisfaction scores,” Athron added.
Fortnum’s plans further international and UK expansion
Although too late to feature in the latest accounts, 2025 was also significant as it saw Fortnum’s expand outside London for the first time, with the opening of a boutique store at the Bicester Village shopping outlet in October. It was followed by a new kiosk at Canary Wharf in London.
Fortnum’s would continue to invest in its store estate during the current financial year, including with a refresh of its airport outlet and bar at Heathrow’s Terminal Five. It would also continue its international expansion, focusing on growing its customer numbers in the US and the EU, having resumed exports into the block in 2023 following the opening of its own distribution centre in Belgium.
It also plans to improve the level of personalisation offered by its loyalty scheme, and will unveil a swathe of “market-leading” NPD including new infused teas and biscuits during the first half of 2026.
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