Merchant lifts profits, despite uncertainty

British perfume retailer Merchant Retail today posted a 15% hike in half-yearly profits to £3.6m (€5.1m) despite a period of “great uncertainty” in which it decided to pull the plug on its department stores.

The Buckinghamshire-based group hailed the continued success of its 106-strong The Perfume Shop chain, which saw a 7% increase in like-for-like sales. It said the stores were now gearing up for a highly-competitive Christmas.