What: After a 40% drop in sales during 2020 due to the pandemic, 2021 was much better; their revenue rose 28% to GBP653.4 million but is still not the same level of revenue that they had before Covid hit, with GBP852.9 million.

Why it is important: The rise in revenue is a start and reflects the end of lockdowns, greater confidence among shopping going into physical stores and the slow return of international tourists.

During the year the company took several steps that strengthened its balance sheet, receiving investments from its immediate parent company adding up to a net GBP50 million.

And the recovery of UK retail got under way with international tourists returning to the country in relatively large numbers and British shoppers also feeling more confident about going into stores.

On the downside, the cost-of-living crisis is affecting British consumers and the past two months have seen a wider downturn in UK retail. It’s unclear yet whether the more affluent shoppers who makes Selfridges a regular habit are still shopping in large numbers.

Selfridges’ sales bounce back post-pandemic but remain loss-making