Selfridges boasts 12th year of record growth

803

Selfridges has achieved its twelfth consecutive year of record sales following a £300 million investment drive.

In stark contrast to the rest of the department store sector, Selfridges saw sales jump 11.5 per cent to over £1.75 billion in the year to February 3, topping records yet again.

Meanwhile its profits also beat records for the fifth year running, rising £1 million to £181 million.

“All our stores did well as more people than ever before visited them and we have recorded outstanding growth in our digital business,” managing director Anne Pitcher said.

“I think this is testament to the amount of focus we pay to experiences in our stores and how we engage with our customers.”

In August the retailer unveiled its brand-new Accessories Hall in its grade-II-listed Oxford Street flagship spanning 60,000sq ft, marking the latest milestone in its ongoing investment strategy.

Managing director Paul Kelly added: “Significant investment, long-term planning and successful implementation remain the key elements in our drive to remain at the forefront of global luxury retailing”.

Alongside upgrades to its central store, which also included a new triple height entrance on Duke Street, it has looked to develop its digital and online offering, all of which it attributes to its extended period of growth.

Click here to sign up to Retail Gazette’s free daily email newsletter