Selfridges posts 11th year of record sales

Record Sales

Iconic department store Selfridges has posted its 11th consecutive year of record financial results for the year ending January 28.

Selfridges saw sales increase by £200 million compared to the prior year, up 16 per cent to £1.6 billion.

Meanwhile, operating profits for the year jumped 18 per cent to £180 million.

It has attributed its continued financial growth to a £300 million investment programme, which it started three years ago and includes the development of its London flagship’s digital capabilities.

The retailer also opened the first phase of its new Accessories Hall, and will launch the second phase in 2018 – making Selfridges the largest luxury accessories destination in the world once open.

Investments have also been made at the retailer’s Birmingham and Manchester stores, seeing investment in accessories, beauty, fashion and restaurants.

“In 2016 we saw fantastic growth across all categories with increased traffic to both our stores and,” managing director Anne Pitcher said.

“Our success story for last year came from our driving ambition to be creative and courageous, offering customers extraordinary experiences and destinations.

“Having just launched Christmas, where we celebrate the cities we call home, and soon to expand our Accessories Hall, we are well positioned to deliver good growth again for 2017”.

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