Selfridges has reported record profits for the year ending January 2015, ahead of the busiest shopping day of the year.

As retailers gear up for Black Friday on November 25, the luxury department store said its operating profits rose 3.4% to £155m, with gross sales up 4.3% to £1.3bn.

All Selfridges retail channels saw year-on-year growth.


Its results were driven by investment in and the launch of its UK click & collect service.

In May, Selfridges announced the £300 million refurbishment of its Oxford Street flagship, which is expected to take three years to complete.

It also opened the Denim Studio, the largest denim space in the world, and launched a men’s personal shopping service.

Commenting on the business performance, Selfridges group managing director Paul Kelly, said: “Selfridges UK has delivered another year of strong progress driven by continuous innovation and investment in our multi-channel strategy and retail environment.

“Despite challenging trading conditions in 2014 we are accelerating our investment in multi-channel and continuing our £300m redevelopment programme of our Oxford Street store.”

Selfridges managing director Anne Pitcher added: “Throughout 2013 and 2014, we have focused on providing an extraordinary experience for our customers in stores, and online. Christmas 2014 is of course our crucial trading period and we have a fantastic product offer and an exciting campaign to ensure Selfridges will be the destination for Christmas.”