Selfridges’ losses narrow after sales boost

Selfridges has seen its full year losses narrow after revenue grew by 29% £843.7 million year-on-year.

In the 52 weeks to 28 January 2023, the department store chain’s net loss was £38.3 million compared to £83.9 million in the previous year.

In addition, the retailer swung to an operating profit of £38.9 million in the period from a prior loss of £38.1 million.

Selfridges said the improved performance was due to stronger footfall and sales, particularly in its London and Manchester Exchange Square stores.

In August last year, Selfridges announced that its acquisition by Central Group and Signa Holding had been completed. The group was previously owned by the Weston family.

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