Fortnum & Mason boss Beverley Aspinall has stood down after seven years in the role.

Aspinall has resigned “to pursue other challenges.” Observers believe that she could be poised for a bigger retail job. She is set to leave Fortnum’s next month.

Aspinall was recruited in 2005 from John Lewis’ Sloane Square store in London, Peter Jones, where she was managing director.

In its year to July 2011, the luxury store, owned by the Weston family who also own Selfridges, posted a £1.1m pre-tax profit against revenue of £54.9m.