Harvey Nichols full year EBITDA jumps 102 percent

For the full year to March 31, 2018, the Harvey Nichols Group reported revenue rise of 9 percent to 210 million pounds (277.8 million dollars) and EBITDA increase of 102 percent to 14.7 million pounds (19.4 million dollars). The company said, this strong performance followed the latest completed phase of an extensive investment programme to the flagship Knightsbridge store on the beauty, accessories & menswear floors, as well as continued focus on the online offering and throughout its eight stores in the UK & Republic of Ireland, OXO Bar & Brasserie and eight stores internationally.

Commenting on the results, Manju Malhotra and Daniela Rinaldi, Joint COOs of the company, said in a statement: “Our ambitious Knightsbridge store refurbishment plans have had a positive impact. However, the retail environment remains challenging and competitive.”

The company’s first phase of the Knightsbridge refurbishment of the menswear department was completed in April 2016. The second phase, a 23,000 sq. ft. space on the ground floor, Harvey Nichols said, was unveiled in November 2016 and included a new beauty hall, an elevated beauty services offer, a fine jewellery room and designer accessories hall. During the financial year 2017-2018, the Group began a comprehensive renovation of the womenswear international designer floor was completed in June 2018, showcasing a curated edit of both internationally acclaimed designers as well as young talent.

Picture credit:Harvey Nichols via FashionUnited