Harrods’ profits and sales rose over its past year as the luxury department store attracted millennial consumers through its doors.
Pre-tax profits increased 9% to £215.9m while operating profit was up 15.8% to £218.4m, despite heavy investment in its flagship store.
The retailer is set to invest £200m in its menswear, sports and beauty departments over the next three years. It invested around £55m in the last year.
Gross sales were up 9% to £2.1bn in the year to February 3, 2018.
Managing director Michael Ward told The Times that the business was well-placed to weather current headwinds such as a no-deal Brexit, but stressed that no deal could cost Harrods £7.6m a year in the admin costs involved in customs paperwork.