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Selfridges heads for £100m profit in centenary year

A strong start to Christmas trading has been the icing on the cake for department store group Selfridges, which said its profits would bust the £100 million market in this, its 100th year of trading.

Selfirdges made an £88m profit last year, but with sales of categories such as handbags, kid’s footwear, shoes and beauty products sharply up, the season of goodwill looks set to be festive.

Selfirdges chief executive Paul Kelly said that a robust operational performance, strong products and engaging in-store entertainment had all contributed to the sector-bucking performance, but he warned that 2010 was likely to be tougher owing to weakening consumer sentiment in the face of higher taxes and VAT.

Readers' comments (2)

  • A great performance from one of the UK's best department stores. It proves that if you have a good product proposition with a brilliant store environment you can beat the recession. How nice to beat the £100m mark on your 100th birthday too.

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  • What an excellent achievement; smart move on the in-store entertainment.

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