Full-price Christmas at Selfridges as sales soar in all branches
Further evidence of the uneven nature of Holiday season spending in Britain came Monday as Selfridges said it had a strong season despite a raft of reports showing falling footfall and sluggish trading elsewhere.
The high-end department stores chain recorded an 18% rise in Christmas sales as an influx of overseas shoppers continued to take advantage of the cheap pound.
And with the pound falling to a 10-week low on Monday, it looks like the comapny could continue to benefit from bargain-hunting international shoppers as the clearance period goes on.
But was not not only its London flagship that benefitted in the run-up to Christmas. The luxury retailer said the Christmas season sales surge came across its stores in London, Manchester and Birmingham too, as well as online. And margins appear to be healthy as Anne Pitcher, managing director, told The Times it had been a “full-price Christmas” with no discounting.
During December, Selfridges hosted a series of in-store events such as a pantomime in the style of the popular vintage Carry On films, and family activities to boost sales.
But while London tourist visits should continue as the pound stays weak, high-end brands are set to start raising prices this year as they seek to create a level playing field on price for their products across Europe.
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