Upmarket department store Harvey Nichols has revealed plans to turn its fortunes around, starting with a round of some 60 redundancies at its head office.
Trading at Harvey Nichols has been heavily impacted by the economic squeeze, which has seen many consumers reduce their spending on all but essentials, as well as by the end of tax-free shopping for overseas visitors.
Pearson Poon, vice chairman of Harvey Nichols, commented: “We are taking action to simplify and strengthen our business by optimising our cost structure to operate more efficiently across our support team.
“Coming out of Covid has been very difficult for the wider retail industry in the UK, which faced increased inflation, cost pressures, and the loss of tax-free shopping.”
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