£20m Birmingham investment caps record year for Selfridges

DEPARTMENT store group Selfridges has announced a 10.4% increase in sales for its last financial year, with operating profit reaching record levels.

The group, whose Birmingham store anchors the city’s Bullring, said sales topped £1.2bn for 2013, with operation profit up 12.3% to £150m. All Selfridges retail channels saw year on year growth.

Commenting on the UK results, 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 the £20m facelift to the Birmingham store, which has seen the introduction of a new Beauty Hall, the redesign of the Menswear department on Level 2 and the installation of 360 degree windows, inspired by the Oxford Street store.

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 was recently voted the ‘World’s Best Department Store’ by its peers at the biennial Global Department Store Summit in April 2014, for the third consecutive time.