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Selfridges sales break £1bn barrier

Sales at luxury department store Selfridges surpassed the £1bn mark for the first time in Britain last year.

The retailer’s operating profits were up 5% to £133m in the year to January 2012, figures published this week are expected to show.

Paul Kelly, managing director of Selfridges Group, which also owns stores in Ireland, Canada and the Netherlands, told the Sunday Times that the British arm had enjoyed “several years of continued growth” because of investment in the stores.

The retailer plans further investment, with a revamp of the men’s and women’s clothing departments in London expected.

Selfridges operates a flagship store on Oxford Street as well as shops in Manchester and Birmingham. It also sells online.

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