Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Sales soar 10% at Selfridges in Oxford Street

Selfridges’ Oxford Street flagship has bucked the retail trend by recording a sales increase of 10% excluding VAT in the year so far.

First-half profits at the four-shop department store chain are also understood to have risen by a double-digit percentage.

Selfridges Group chief executive Paul Kelly said: “Unless the world turns upside down in the second half it will be a good year.” The strong performance has come in spite of flat sales at the three regional stores in Birmingham, the Trafford Centre and Manchester, which has been undergoing a major refurbishment, and disruption caused at all its stores by the riots in August.

Kelly attributed Selfridges’ success to creating excitement in stores with the introduction of brands, ranging from new areas for premium brands such as Tom Ford, Bottega Veneta and Dior to the first ever H&M concession and the first UK concession for H&M’s quirky girls brand Monki, plus events such as Project Ocean.

“We’re creating reasons for people to come and shop,” Kelly said. He said that while the Oxford Street store was not directly affected by the riots, all its stores saw evening trade “disappear” in the week the trouble took place.

Selfridges’ strong performance contrasts with some of its department store rivals. Last week John Lewis announced a 54% fall in pre-tax profits.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.