Fenwick has reduced its operating loss by 40 per cent during the first year of its three-year transformation strategy.
The family-owned department store group reported an operating loss of £23.4m for the 52 weeks to 30 January 2026, down from £39.1m in the previous year.
Gross sales increased by £7m to £287.4m, with like-for-like sales across its eight stores and eCommerce operation rising by 2.5 per cent.
Turnover grew from £177m to £179.2m, while gross margin improved from 44.2 per cent to 44.4 per cent despite pressure on the UK high street during the final quarter.
Fenwick remained debt-free and ended the year with cash reserves of £63.4m.
The retailer completed the migration of its eCommerce operation to Shopify, creating a single customer interface across its stores and website. It also introduced new data tools to improve customer insight and business reporting.
Fenwick unified its customer relationship management database and launched MyFenwick Loyalty in September 2025. The programme has already attracted more than 350,000 members.
The group plans further investment in its Kingston and Brent Cross stores following positive returns from improvements made in Newcastle.
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