Selfridges has revealed record operating profits on the back of surging sales following rapid growth of its international online business.
Operating profits increased 12.3% to a record £150m for the year ending December 2013 as sales increased 10.4% to £1.2bn.
Selfridges reported rapid online growth following the launch of international delivery in August 2013, which now serves over 60 countries including China.
Record profits mark the tenth anniversary of Canada’s Weston family acquiring the department store chain.
Selfridges group chairman Galen Weston said: “Our vision is to lead luxury shopping experiences for our customers around the world and we will continue to invest to achieve this goal”.
Investment includes the £300m redevelopment programme of the company’s Oxford Street store and a £40m revamp of its website.
During 2013 the retailer also introduced click-and-collect in the UK and opened a men’s personal shopping service.
Selfridges is gearing up for the crucial Christmas trading period and Selfridges managing director Ann Pitcher said the company has a “fantastic product offer and exciting campaign to ensure Selfridges will be the destination for Christmas”.