Selfridges has announced another strong year in 2013 in both sales and profit. The year delivered gross sales of £1.2bn, an increase of 10.4% and a record £150m in operating profit, which was an increase of 12.3%. All Selfridges retail channels saw year on year growth.
Galen Weston, Chairman, 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 was well positioned to benefit from continuing international growth following the Olympics in 2012, whilst its online business continued to grow rapidly, helped by the launch of international delivery in August 2013, which now serves over 60 countries including China.
Paul Kelly, Managing Director, Selfridges Group said, “Selfridges UK has delivered another year of strong progress driven by continuous innovation and investment in our multi-channel strategy and retail environment. Despite challenging trading conditions in 2014 we are accelerating our investment in multi-channel and continuing our £300m redevelopment programme of our Oxford Street store.”
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.