Selfridges announces record annual profits and overhauls flagship store

Endaba Group

Department store Selfridges has revealed record annual profits for the year end January 2015; they trade from four shops and sell online. They experienced a 3.4% increase in operating profits to £155m. The sales in the year advanced 4.3% to £1.3bn. Their performance was based on their enhanced multichannel offering, as they trade in eight currencies and deliver to over 130 countries worldwide. Last year, they invested £300m into their Oxford Street flagship, which will continue over the next three years. Paul Kelly, Group Chief Executive for Selfridges says, “Our performance has consolidated our lead and combined with our £300m investment places Selfridges in the top tier of global luxury retailing.”