Selfridges has reported a strong financial year in the period ending January 2015 with gross sales of £1.3billion (+4.3%) and a record £155m in operating profit (+3.4 %).
All retail channels – four stores at Oxford Street in London; Trafford Centre, Manchester; Exchange Square, Manchester; and Bullring, Birmingham and online – delivered year-on-year growth. The retailer said this performance was underpinned by an enhanced multi-channel offering: its international website now delivers within the UK and to over 130 countries, trading in eight currencies.
During 2015, Selfridges began a £300 million investment of its flagship Oxford Street store. The redevelopment will roll out over the next three years, with the first new destination due to open in Spring 2016. The group has also continued to develop its stores. In Birmingham, Selfridges opened a new beauty hall and in Manchester, the Exchange Square store saw a transformation of its luxury designer fashion destination, including a revamped shoe space which includes the only Christian Louboutin store outside London.
Selfridges Group managing director Paul Kelly said: “Selfridges has delivered another record result in 2014/15. We have achieved this by offering our customers a comprehensive fashion and lifestyle destination and a unique shopping experience. Our performance has consolidated our lead and, combined with our £300m investment, places Selfridges in the top tier of global luxury retailing.”
Selfridges managing director Anne Pitcher added: “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.”
Selfridges has just launched its Christmas programme across all its stores and online, with the theme of Journey to the Stars, which celebrates personalisation and shopping by star sign.
In June 2010 Selfridges was named Best Department Store in the World for the first time by the IGDS (Intercontinental Group of Department Stores). The title, which Selfridges held until June 2012, is the industry’s highest accolade. Selfridges won the title again in June 2012, and again in 2014 for an unprecedented three times consecutively.
Selfridges flagship on London’s Oxford Street. Photo Credit: Andrew Meredith