Sales at the Trafford Centre rose by nearly 9%

Pre-tax profits for the year to 1 February climbed 8.2% to �40.7m ($63.8m), with sales up 10.6% at �444.9m.

Selfridges said that since the beginning of February sales at its London store were at the same level as a year ago.

Analysts had feared the recent closure of one of the main underground lines near the store would harm trade.

The number of shoppers in central London is also thought to have fallen following terrorism fears and the new congestion charge on road traffic.

"Oxford Street is proving resilient, and the benefits of our multi-site strategy are evident in our record results," said chairman Alun Cathcart.

Expanding empire

Sales at the London store rose 6.1% over the year, with profits unchanged at �68m.

Meanwhile the store at the Trafford Centre in Manchester store, saw sales increase 8.9% with profits up 4.4%.

Selfridges opened a new store at Exchange Square in Manchester last September, which the company said was contributing a strong level of sales.

By the end of the year Selfridges expects to have nearly half of its selling space outside London following the opening of a store in Birmingham in September.

It has also obtained a site in Glasgow, and is looking to open new outlets in Leeds, Bristol and Newcastle.