Selfridges swings to a £13m pre-tax profit after a £15.9m loss

Selfridges Retail Ltd. made a pre-tax profit of £13 million in its 52 weeks to 3 January 2026, against a loss of £15.9 million the year before. The figures come from accounts due to be published on Companies House in the U.K.

Revenue grew by more than 7 percent to £830.8 million. The company put that down to strong footfall and sales growth across its four U.K. stores, and to a focus on more profitable, higher-margin sales rather than volume for its own sake.

Including sales from brand partners, total revenue stood at £1.6 billion. Selfridges has a flagship on London's Oxford Street, a store in Birmingham and two in Manchester. Chief executive André Maeder said footfall was up 7 percent across the stores.

What the accounts show

Operating profit rose 89 percent to £79.7 million, which the company said reflected margin improvement and tight cost control throughout the year. Pre-tax profit was far smaller, at £13 million, so a large part of the operating figure did not reach that line.

Post-tax profit for the period was £23.9 million, up from £1.8 million in the prior year. The post-tax figure is higher than the pre-tax one, and the accounts as reported do not explain the difference.

The balance sheet strengthened too. Selfridges ended the year with cash of £166.3 million, up £22.9 million on the previous year. The company has not said in the material available what it plans to do with that cash.

Maeder said the results reflect the strength of the brand and its ability to deliver unique experiences for customers. He called them strong, and said they came despite difficult retail and macroeconomic environments in which the store continues to invest in customer experience.

The lobbying for tax-free shopping

Maeder singled out policy as a drag. He said the challenges had been made more difficult by choices such as the abolition of tax-free shopping for international visitors, which he called a factor in an already tough trading climate.

He said he was hugely encouraged to see tax-free shopping back on the political agenda. He urged the government under new Prime Minister Andy Burnham to bring it back, arguing it would boost high streets and unlock growth across the whole of the U.K.

Selfridges named several highlights for 2025: the Summer of Sound campaign across the country, expanded beauty destinations in London and Birmingham, and what Maeder called a magical Christmas partnership with Disney, staged last Christmas.

The private members' club 40 Duke was also cited among the year's concepts. Maeder described it as a global-first members' destination, said momentum had continued into 2026 with its success, and said preparations for another world-class Christmas were well underway.

Maeder's strategy for the store

Maeder has said his aim is for Selfridges to be the most imaginative shop in the world. In an earlier interview he described the store as a platform for its partners and for unexpected artists, a historic market square offering special products.

He said the four stores hosted more than 400 pop-ups and 650 events last year, most of them at the Oxford Street flagship. In London the store also has a cinema, a members' club, beauty services and a hair salon. We covered that interview when Maeder set out his strategy for the department store.

The Dream On summer campaign is his example. Inflatable horses, butterflies, snails and other creatures by the New York artist and designer Katie Stout hung from the atrium ceiling and filled the windows, and the coffee shop sold sweets and cakes in matching colours.

Maeder framed it as a response to the times. The world is tough enough, he said, and whether a customer stays five minutes or three hours, Selfridges wants them to experience wonder. He called the store a place of imagination, cultural relevance and moments that surprise.

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Images: Selfridges