Selfridges sinks further into the red as sales at luxury department store falter Retail Luxury department store chain Selfridges has lost more than £400m since it last made a pre-tax profit, it has been revealed. The business, which has UK stores in London, Birmingham and two in Manchester, passed the milestone after falling to a £41.9m loss in the year to 3 February, 2024. It comes after Selfridges previously [...]
Selfridges: Saudi Arabia’s PIF invests in department store group Retail Saudi Arabia’s Public Investment Fund (PIF) is now a joint owner of the business behind upmarket department store chain, Selfridges, it has been confirmed. Thai investor Central Group has announced a deal which will see it own 60 per cent of the group’s operating and property companies, with the PIF owning the rest. Central Group [...]
Wedgwood owner slumps to loss despite strong Harrods and Selfridges sales Retail The owner of historic fine china and porcelain brand Wedgwood has slumped into the red despite strong sales through Harrods and Selfridges. Fiskars UK, which is based in Stoke-on-Trent, is also behind the Waterford, Royal Doulton and Royal Albert brands. Newly-filed accounts with Companies House have revealed that the business fell to a pre-tax loss [...]
Is the party for fashion rental over? September 19, 2024 Fashion rental was once touted as the industry's next big thing, but has the lustre faded, asks Anna Moloney.
The brothers brewing a Dirtea ‘shroom boom’ in the City August 21, 2024 When burnout hit, Andrew and Simon Salter didn’t rest up. They set out to change the City's views on wellness with their mushroom business; Dirtea.
Selfridges’ new chief faces an uphill battle August 13, 2024 Selfridges’ new CEO, André Maeder, has his work cut out for him. The company has managed to survive the gruelling pandemic years – largely by cutting jobs and moving online – a tough cost-of-living crisis and an acquisition in 2022. But seasoned retailer Maeder, who was officially announced two weeks ago and starts in November, [...]
Selfridges chief quits in surprise move for struggling retailer July 30, 2024 The chief executive of Selfridges has unexpectedly quit, having been in the job since the start of the pandemic. Andrew Keith, who joined in 2020, will leave the company that owns the famous flagship London store to pursue new ventures in Autumn this year. He has been operational as CEO for three-and-a-half years, having been [...]
Saudi Arabia’s PIF seeks to up Selfridges stake to 50 per cent July 21, 2024 Saudi Arabia's Public Investment Fund has made a bid to up its stake in Selfridges to 50 per cent for a cash price of £1m.
Selfridges opens newly revamped beauty and skin wellness hall June 7, 2024 The iconic London destination for all things fancy, Selfridges has just opened a completely revamped beauty and skin wellness hall.
Selfridges to make redundancies at London HQ and hits out at ‘absence of a tax-free shopping’ May 9, 2024 Luxury department store Selfridges is to make around 70 redundancies at its London head office.