NEWS

Selfridges celebrates record annual profits

Published on: 6th November 2015

Driven by the expansion of its online business, the department store has reported record annual profits for the year ending January 2015.

Selfdridges-480The retailer’s operating profits grew 3.4% to £155m, with its gross sales rising 4.3% to £1.3bn.

Its growth was helped by the company’s strong online business, which delivers to over 130 countries from within the UK.

The company has four stores, which are based in in Oxford Street, Birmingham and Manchester. Over the last year, Selfridges started a £300m refurbishment of its Oxford Street store, which is predicted to take three years to complete. The retailer has also added more luxury designers such as Christian Louboutin to its store in Manchester and has recently opened a new beauty hall in Birmingham.

Selfridges’ managing director, Anne Pitcher, commented: “We are delighted to have delivered record results in 2014/15, a year when we focused our attention on providing an extraordinary shopping experience for our customers, however they chose to shop with us. We are confident that our strategy in the coming year will firmly reinforce Selfridges’ position at the forefront of fashion and provide great opportunities for the many incredible brands that we partner with. Digital is now a key driver of growth for us. We think of it as a fifth store.”

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