Selfridges reports record results thanks to multichannel offering

Selfridges has announced record profits for its year ending January 2015. The luxury department store, with branches in London, Birmingham and Manchester, unveiled a 3.4% increase in operating profit to £155 million, while gross sales rose 4.3% to £1.3 billion.

Selfridges said this was "underpinned by an enhanced multichannel offering" after the retailer expanded its online capabilities to 130 countries, and is now trading in eight currencies.

Paul Kelly, managing director of the Selfridges Group, said: "Selfridges has delivered another record result in 2014/15. We have achieved this by offering our customers a comprehensive fashion and lifestyle destination and a unique shopping experience. Our performance has consolidated our lead and combined with our £300 million investment places Selfridges in the top tier of global luxury retailing."

The department store retailer commenced its significant investment by updating its Oxford Street flagship this year, with plans for redevelopment to roll out over the next three years.

Meanwhile, Selfridges has also continued to develop its two other stores – Birmingham has received a new beauty hall, while Manchester's designer fashion department has been revamped to include the only Christian Louboutin store outside London.

Anne Pitcher, managing director Selfridges, added: "We are delighted to have delivered record results in 2014/15, a year when we focussed our attention on providing an extraordinary shopping experience for our customers, however they chose to shop with us. We are confident that our strategy in the coming year will firmly reinforce Selfridges position at the forefront of fashion and provide great opportunities for the many incredible brands that we partner with."