Selfridges hails record-breaking results
DEPARTMENT store group Selfridges has announced a 10.4% increase in sales for its last financial year, with operating profit reaching its highest level in its 105 year history.
The group, which has stores in Manchester city centre and the Trafford Centre, said sales topped £1.2bn for 2013, with operating profit up 12.3% to £150m. All retail channels saw year on year growth.
Commenting on the UK results for the year to December 2013, Galen Weston, chairman, Selfridges Group said: “This is the 10th anniversary of our acquisition of Selfridges, and I am delighted with the progress we have made over those years in improving both the business and our financial performance. Our vision is to lead luxury shopping experiences for our customers around the world and we will continue to invest to achieve this goal.”
The business benefitted from continuing international growth following the Olympics in 2012, while its online business continued to grow rapidly, helped by the launch of international delivery in August 2013. This sees the group’s offering extended to more than 60 countries worldwide, including China.
Paul Kelly, managing director, Selfridges Group said the strong performance had been driven by continuous innovation and investment.
Its £50m investment programme included a £3m investment in menswear at Selfridges Exchange Square in Manchester.
Commenting on Selfridges’ strategy, Anne Pitcher, managing director Selfridges, said: “Throughout 2013 and 2014, we have focused on providing an extraordinary experience for our customers in stores, and online.
“Christmas 2014 is of course our crucial trading period and we have a fantastic product offer and an exciting campaign to ensure Selfridges will be the destination for Christmas.”
Selfridges has begun a £300m investment programme in its flagship Oxford Steet branch, the store opened by the American entrepreneur Harry Gordon Selfridge.
