Selfridges posts £155m profit

The Retail group, Selfridges, owned by Canadian billionaire Galen Weston, reported record sales and operating profits  which has risen by 3 per cent to £155 million for the 12 months  to the end of January, with  gross sales up 4 per cent to

£1.3 billion.

Selfridges which owns four department stores in the UK, has expanded online business and given into the trend of personalisation.

Their performance last year, lifted due to unexpected growth of its online service which can deliver luxury fashion brands to 130 countries.

The group is currently spending £300m in revamping its century old London store, making shopping  a luxury activity for shopaholics