Selfridges had already flagged the fact that its sales rose and its net profits fell in the year to February 2020, but it has now officially filed its annual results and the full extent of that performance can be seen.
It took the pandemic to shift all sales operations online. So clothing, lifestyle and accessories retailer Skinnydip London introduced automated merchandising and A/B testing technology to boost its digital operations.
Selfridges weathered the 2020 storm, despite enduring the toughest retail year in decades. That’s according to company chief Anne Pitcher who admitted that it was the “most difficult” period in its 113 years.
Richemont’s third quarter — the all-important three months to the end of December — saw sales rising only 1%, although currency-neutral, they were up a healthier 5%, despite the “continuously volatile environment”.
Burberry saw another round of retail sales falls in Q3, with Europe and the Americas still being hit hard. But it said China, Korea, leathergoods, outerwear and full-price sales all headed in the right direction.
Harvey Nichols has promoted its COO to its top job with Manju Malhotra becoming CEO. She now runs the UK and international stores, plus the online business, at the toughest time for luxury retail in decades.
Liberty's sales rose and its losses narrowed in the year to February, it said this week. But since then, lockdowns have put it under heavy pressure and while its owners are supportive, times are tough for the flagship.