Fortnum & Mason is exploring further overseas opportunities after a record year of sales and the completed refurbishment of its flagship Piccadilly store.

Commercial and marketing director Alison Jones said Fortnum & Mason expects to open three shop-in-shops in Japan this year and will expand its non-food range in the country. She added that it is also exploring its options in other new markets.

For the year to July 15, the luxury retailer’s international business moved into profit on a slightly reduced turnover.

Fortnum & Mason delivered total sales up 4 per cent to£39.4 million, on a pre-tax loss of£10.1 million as a result of one-off costs and refurbishments.

This year, it will extend its US mail order business to target corporate customers. It will open a 1,400 sq ft store in Heathrow’s Terminal 5 next month.