Headlines

Arcadia Reports Sales Growth

Brand’s Topshop New York flagship to be performing ahead of plan

Published

15 years ago

October 22, 2009

VMSD Staff

Arcadia Group (London), owned by Sir Phillip Green, announced its sales grew 2.7 percent to $3.13 billion and pre-tax profits rose to $352.4 million for the year ended August 29. Same-store sales came in flat over the period, but the company says the new financial year has started well with current trading in the past seven weeks up 2.3 percent. The results do not include department store retailer Bhs, which became part of the Arcadia Group in July.

Arcadia’s young fashion brands Topshop, Topman and Miss Selfridge drove sales, with each reporting record years. Green says the brand’s Topshop flagship, which debuted in New York in April, was drawing strong sales.

He added that the VAT increase, unemployment and the general election will continue to put pressure on retail and that he remains cautious for the year ahead.

In additional news, the company named chief operating officer Ian Grabiner to the post of chief executive of the group.

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