Harry Potter is continuing to cast its magic upon the UK retail space, having generated £20.1 million of revenue over the 15 months to the end of February last year.
Financial statements have revealed that through a chain of just three stores located within the UK – two in the departure lounges of London’s Heathrow and Gatwick airports, and one at London’s Kings Cross railway station – Potter maintains its spell over UK shoppers.
The stores are operated by the British company Platform 9 ¾ Kings Cross, which also managed the retail for the Harry Potter and the Cursed Child theatre shows in London, Melbourne, New York, and San Francisco, ultimately owned by WarnerMedia.
According to a report from Forbes, over the 15 months to the end of February 2019, Platform 9 ¾ Kings Cross made a £0.4 million net profit after paying £25.6 million of costs. Its biggest expense was the £7.5 million spent on stock, followed by the £3.7 million on wages.
Amid the financial reports has come the announcement that Warner will now open the world’s largest Harry Potter store in New York this summer.
The new store will be located next to the Flatiron building at 935 Broadway and will span more than 20,000 square feet across three floors. It will also house the largest collection of products based on the Harry Potter movies, as well as the Fantastic Beasts spin-offs.