Selfridges sees London recovery
Manchester growth also strong
July 31 2002
Department store operator Selfridges has seen sales at its flagship Oxford Street store recover strongly.
London sales were up 5 per cent in the first half of the year, following a slump in the wake of the September 11 attacks last year. Sales at the Trafford Centre store in Manchester also continued to grow, increasing 14 per cent on the previous year. A second Manchester store opens in the City centre next month. Overall group sales were up 6 per cent.
Selfridges said that in-store concessions had performed particularly strongly, prompting the company to increase margins on its directly-sourced products to compensate for the changed sales mix.
The core menswear and womenswear product categories also saw strong sales increases, boosted by the launch of a sportswear department at Oxford Street last month.
