Harrods Reports Challenging Year Amid Stable Trade and One-Off Expenses
Harrods, the renowned London department store, has reported a challenging year marked by stable trade and significant one-off expenses. The company's managing director, Michael Ward, acknowledged the difficulties while highlighting the launch of a redress scheme for historical abuse survivors.
Harrods Group (Holdings) saw a 0.6% increase in annual turnover to $1.37 billion, despite a 2.4% decline in gross transaction value to $2.79 billion. Operating profits before exceptional items and pension losses dropped by 17% to $226 million. The company posted a pre-tax loss of $43.6 million and a post-tax loss of $46.4 million.
The year was also marked by cybersecurity incidents. In September 2025, nearly half a million shoppers were affected by a data breach due to a compromised third-party service provider. Harrods insisted that none of its own internal systems were breached, and exposed information was limited to basic personal identifiers. Earlier, in May 2025, Harrods was targeted in a separate cyberattack, following similar incidents at other major U.K. retailers.
In response to historical abuse committed by its former owner Mohamed Fayed, Harrods launched the Harrods Redress Scheme on March 31, 2025. The scheme, developed for survivors of historic abuse, has already received more than 100 applications and will remain open until March 31, 2026.
Despite the challenges, Harrods remains committed to supporting survivors of historical abuse and enhancing its data security measures. The company continues to assess the impact of one-off expenses and cybersecurity incidents on its financial performance.
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