Selfridges 2021 revenues rise 28% despite pandemic challenges

Selfridges has released its financial results for the 52 weeks ending 29 January 2022, revealing a 28% increase in revenue to £653.4 million.

The group's operating loss totalled £38.1 million, down from the previous year's loss of £136.9 million.

Trade and revenue at Selfridges continued to feel the effects of the pandemic, with stores closed for the first ten weeks of the year and some restrictions affecting the business throughout.

During the year, Selfridges took a number of steps to strengthened its balance sheet, receiving investments from its immediate parent company adding up to net £50 million. The group also made payments in relation to charitable donations of £1,280,000 to a number of local, national and international organisations.

Central Group and Signa Holding's acquired Selfridges Group from the Weston family in December 2021. The deal saw the Selfridges Group portfolio, which comprises 18 stores under four names; Selfridges in England, Brown Thomas and Arnotts in Ireland and De Bijenkorf in the Netherlands, become part of Central and Signa's combined existing portfolio of luxury department stores.

Tos Chirathivat, Executive Chairman and Chief Executive Officer of Central Group, and Dieter Berninghaus, Chairman of the Executive Board of Signa Holding was named the Co-Chairman of the group.