29 September 2021
The Weekly
England

Higher-end department store group Fenwick was hit particularly hard during the pandemic, its latest set of results to the end of January show. While stores were shut during lockdowns, the retailer didn’t have the luxury of an online platform to soften the sales blow, meaning the business suffered more than some of its peers. Pre-tax losses rose to £112mn from £47mn in 2019; sales plummeted to £140.5mn from £323.7mn. The company’s digital ambitions are now key to continuing growth and around 80% of Fenwick’s ranges is now sold online. While the Bond Street store has suffered a slump in footfall because of a lack of office workers and tourists post lockdowns, Fenwick’s other stores have benefited from more people staying local.

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