link.png Success for Selfridges with record profits← Back

 
It's one of London's most famous department stores and it's been going from strength to strength. Selfridges announced yesterday that it made record profits of £150 million for 2013, representing a 12.3% rise in operating profits. The luxury shopping destination saw a 10.4% sale increase, making a total of £1.2 billion.
 
The department store was bought by W. Galen Weston in 2003, and recently announced a £300m investment plan to redevelop the flagship store on Oxford Street. Besides the stores in London, Manchester and Birmingham, the department store has been concentrating on growing its digital presence with an injection of £40 million.
 
Having strengthened its focus across all retail-channels, 2013 also saw the launch of a number of new services, which accounts for this 10.4% sales increase. As well as introducing a ‘Click & Collect’ service, there was a push to boost international sales, with Selfridges now delivering to over 60 countries worldwide including the US, the Middle East and China. Alongside these new features for online shoppers, the store saw the launch of a personal shopping service for men.
 
This news comes as Selfridges gears itself up for the Christmas shopping period, a key trading moment of the year for the retailer.  
 
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