Selfridges posts uplift in full year sales
Selfridges has posted a 28% increase in full year sales after it benefited from a return to normal shopping patterns following the easing of pandemic restrictions.
In the year to 29 January 2022, sales rose to £653.4 million from £508.5 million in the prior 12-month period. The department store also saw its operating loss reduce to £38.1 million from £136.9 million a year earlier.
Selfridges said store closures at the beginning of 2021 had impacted its profitability. However, a subsequent increase in international tourists and the return of normal shopping patterns led to an improvement.
The company said in its financial statement: “Despite the challenges, Selfridges is set up for a long and sustainable future.”
Selfridges currently operates UK stores in London, Manchester and Birmingham.
Previously owned by the Weston family, Selfridges was acquired last year by Central, a family-owned Thai retail group, and the Austrian Signa real estate company.
