Selfridges has had another storming year after smashing its sales record for the second consecutive year.
The luxury department store, which has seen its annual sales rise 6.1% to £1.1 billion, now boasts a mighty operating profit of £134 million. But ever the sensible spenders, the company's new riches are being poured straight back into maintaining Selfridge's sterling service, swanky stores and consistently high-quality luxury goods.
'In 2013, we are accelerating our commitment to making significant investment into both our stores and our online businesses,' said managing director, Anne Pitcher. So that means better online shopping and plenty more rails for our browsing pleasure. Result!
'In Birmingham, we have begun phase one of a £20 million investment over the next three years. We are now offering international delivery to 54 countries worldwide, have a drive-through click and collect system in London, and a 100,000sq ft newly refurbished space in the Oxford Street store alone. This year, Selfridges 2013 is destination Christmas.'
It's also just been announced that Selfridges is now vying for a stake in Ireland's biggest department store, Arnotts, after it was put up for sale by IBRC and Ulster Bank.
They're on a roll...
By Robyn Munson