Selfridges profits on track

Profits at Selfridges are on track to exceed £100m in its centenary year, buoyed by demand

from wealthy foreign tourists and day-trippers to London. The group, which also has stores in Manchester and Birmingham, notched up trading profits of £88m last year.

It has already got off to a strong start in the festive season with sales of toys up 27% on last year and Christmas decorations showing an increase of 36%. Selfridges said that handbags, party dresses, shoes and beauty products were booming as women opted to “self-gift” and treat themselves before Christmas. Children’s clothes are also selling well and the average spend per customer across the Selfridges stores is higher than last year.