The owner of the famous London department store’s turnover held up fairly well during the 2024-25 financial year. However, the group posted a loss, weighed down by exceptional expenses, including a compensation program for employees who were victims of abuse by the previous owner, Mohamed Al Fayed, who died in 2023.
It was a mixed year for Harrods.
Although the owner of the iconic London store saw a slight increase in turnover during the 2024-25 financial year, which ended at the end of February, exceptional costs pushed it into the red.
In addition to its famous Knightsbridge store, the Harrods group’s activities include, notably, online sales, the H beauty brand, concessions at London’s two airports, the luxury real estate agency Harrods Estates, and operations in China.
A certain resilience
On the bright side, the British group has managed to withstand the downturn in the luxury market, even though its business has been slightly less dynamic than last year. But while its gross transaction value (GTV), excluding VAT, fell by 2.4% (compared with a 6.6% increase in the previous financial year) to £2.198 billion, Harrods Group Limited’s revenue still grew by 0.6% (versus +8.2% in 2024-25) to around £1.08 billion, which is below the UK inflation rate.
Discover our plans Subscribe for 1€ Become an active member of the community of luxury leaders.
Read also > Harrods continued its strong momentum last year
Featured photo: © Unsplash
