. . . BUT SELFRIDGES IS SOARING!

SELFRIDGES is celebrating record full-year earnings which leapt 18pc amid a surge in online shopping.

The retailer said operating profits rose to £180m in the year to January 28, while sales increased by £200m, or 16pc, to £1.6bn. It marks a turnaround from a year earlier, when it reported a 1.9pc fall in operating profit to £152m.

The results were driven by ‘strong growth’ across the business, while the ‘overall performance’ of Selfridges.com experienced ‘above expected growth’.

Selfridges is set to complete a new Accessories Hall in London by summer 2018, in what it claims will be the largest site for luxury accessories across the world.