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Selfridges refurb boosts sales

Sales at luxury retailer Selfridges hit £1.75bn for the year to 3 February 2018 – a jump of 11.5% year on year, which was credited to the recently unveiled London revamp.

Operating earnings rose to £181m for the year, up from £180m the previous year.

Managing director Anne Pitcher said that a key driver for growth was the retailers new 60,000 sq ft accessories hall in the London store, which formed part of a £300m revamp of the Oxford Street flagship.

She said that that despite high street difficulties, there was still a role for luxury department stores: “If you can create a sense of fun and the unexpected that inspires people to keep coming to your stores, it is a powerful recipe.

“All our stores did well as more people than ever before visited them, and we have recorded outstanding growth in our digital business. I think this is testament to the amount of focus we pay to experiences in our stores and how we engage with our customers.”

Paul Kelly, managing director of Selfridges Group, added: ”Significant investment, long-term planning and successful implementation remain the key elements in our drive to remain at the forefront of global luxury retailing.”

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