
Philip Green is trying to slash Arcadia’s rent bill in a bid to strengthen its cash position ahead of tough times in retail globally.
248 published items with the word (s) or phrase Topman in News, Trends, Videos, Photo galleries, Agenda and sorted by "date descending".
Philip Green is trying to slash Arcadia’s rent bill in a bid to strengthen its cash position ahead of tough times in retail globally.
In addition to the dozens of Arcadia stores earmarked for closure as part of a company voluntary agreement approved in June, Topshop is set to close one of its main branches in east London.
Topshop/Topman is set to lose its CEO in the latest blow to parent company Arcadia. Former Burberry exec Paul Price resigned this week for personal reasons, the company said. Price is relocating back to the US.
Arcadia has opened a warehouse just for Topshop and Topman products, intensifying chatter around its intentions towards those and its other brands, but intended to support its Topshop wholesale ops, the company said.
Arcadia’s young fashion label Miss Selfridge saw losses widen to £17.5 million last year after it was forced to write down the value of loss-making stores. The brand also suffered a 15% decline in sales.
Topshop and Topman may be the flagship brands for Arcadia, but between them they made a £505 million loss last year as their sales dropped and Arcadia boss Sir Philip Green wrote down their value.
Arcadia has filed a new set of accounts at Companies House and it gives an insight into how bad trading has been at the business, with a swing to a loss last year. But it's talking up its growth focus for the future.
Arcadia is hogging the news at the moment and just a day after claims and denials that Sir Philip Green is planning to break up the group, we heard that one of his top execs is leaving.
The heavily flagged arrival of Topshop on Asos is set to happen later this month with the Arcadia-owned brand debuting on September 30. ‘Brother’ brand Topman has been available via the online retail giant since June.
Arcadia is working hard on its recovery plan for star brands Topshop and Topman and not long after it inked a deal to sell on Asos, it has also unveiled a link-up with Shop Direct.