Harvey Nichols is expected to post record profits this year of more than £18m. Turnover for the year is likely to be £160m, not including its concessions. The company's chief executive Joseph Wan spoke at a conference at Manchester
Business School, stated for the year ending in March the luxury department store would post its best ever figures, beating the £18m achieved in 2007/08. Harvey Nichols is owned by Dickson Boon, a Hong Kong-based investor.
Wan
further stated that Harvey Nichols’ Knightsbridge store was the top performer. Sales at its stores in Manchester, Leeds, Edinburgh, Bristol and Birmingham up 4-5% year on year and sales at its Dublin store up 1%, he also told the Financial Times. “We have adapted since the collapse of Lehman [Brothers] in 2008,” he said. “We didn’t talk about when the good times would return. Instead we talked about the way we must recognise that things have changed.”
Later this year Harvey Nichols is planning to open a store in Kuwait City, number 14 in its store portfolio.
Image: Harvey Nichols