Selfridges enjoys another record year
Luxury London department store Selfridges recorded another record year of sales, bucking the downward trend in retail.
The Selfridges group saw a 6 per cent rise in sales during 2018, to a total of £1.85 billion.
Operating profits dipped to £170 million from £175 million, a fall attributed to investment in its flagship Oxford Street store.
The group has said that it will invest as much as £300 million in the store over three years.It is one of four Selfridges locations, with the others situated in Manchester and Birmingham.
Over the last 12 months the London store has seen the opening of a men's streetwear floor and a new restaurant called the Brasserie of Light.
The Selfridges group also includes department store chains in Ireland, Canada, and the Netherlands.