Selfridges has posted its 11th consecutive year of record financial results for the year. The department store saw sales increase by £200 million compared to the prior year, up 16% to £1.6 billion. Meanwhile operating profits for the year jumped by 18% to £180 million.
It has attributed its financial growth to a £300 million investment programme, which it started three years ago helping develop its London flagship’s digital capabilities.
The retailer also opened the first phase of its new Accessories Hall, set to launch the second phase in 2018 making Selfridges the largest luxury accessories destination in the world.
Managing director Anne Pitcher said: “In 2016 we saw fantastic growth across all categories with increased traffic to both our stores and Selfridges.com.
“Our success story for last year came from our driving ambition to be creative and courageous, offering customers extraordinary experiences and destinations.
“Having just launched Christmas, where we celebrate the cities we call home, and soon to expand our Accessories Hall, we are well positioned to deliver good growth again for 2017”.
