Selfridges blames slump in tourists shopping for luxury goods as sales fall

Losses narrow to nearly £16m for 48 weeks to 4 January 2025 but group has not made pre-tax profit since 2019Selfridges has blamed a slump in the number of international tourists shopping for luxury goods in the UK and weaker consumer confidence for a fall in annual sales, as the retailer racked up losses for a fifth year in a row.The upmarket department store chain reported a 7% decline in sales in the 48 weeks to 4 January 2025 to £775m compared with £835m recorded over the 53 weeks of its previous year. Continue reading...

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