Selfridges reports rise in sales and profits

The retailer said it had achieved the performance in the year to February 3 “against a challenging retail backdrop” and that it had made “major investment” in its shops and digital platforms.

In-store, Selfridges reported that the completion of its new accessories hall was a highlight, while digital growth was underpinned by investment in a Chinese-language transactional website, an android app, and its delivery proposition through the Selfridges Plus subscription service.

Selfridges group managing director Paul Kelly said: “Selfridges has delivered another excellent performance and we have continued our ambitious programme of capital expenditure across all channels and stores.

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

Selfridges, which has been voted by peers as the world’s leading luxury department store, will further invest this year when it will complete a four-year £300m capital expenditure programme.

Changes include a new triple-height entrance to its London flagship on Duke Street, linking the historic 1909 building and a 1930s extension.

Selfridges managing director Anne Pitcher said: “We continue to challenge ourselves to be daring in all aspects of our global strategy and to present extraordinary destinations for our customers. We are optimistic for further growth in 2018, with more new openings and all to play for in the run up to Christmas.”