Bhs profits plunge 34%

Department store group Bhs has suffered a 34% fall in annual profits and a fall of 1.4% in total sales to £860m. The drops will be seen as further evidence of retailers’ escalating woes caused by the economic downturn.

Last week Marks & Spencer reported its worst quarterly sales performance for more than three years.

Bhs, the store owned by retail tycoon Sir Philip Green, reported that for the year to the end of March pre-tax profits were down 34% to £32.6m, from £49.4m a year ago.

Like-for-like sales, which strip out the impact of any new store openings during the year, declined by 3%.

Green, who owns the Arcadia empire which also includes TopShop, Miss Selfridge and Dorothy Perkins, said the results were a “solid performance in an exceptionally challenging market”.

He acknowledged the unpredictable and competitive domestic market but added that people needed to be calmed down and be given a “bit of confidence”. He says: “Underlying business is not going to disappear. It is not a disaster.”

Latest from Marketing Week


Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now


Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.


From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.


Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3703 or email

If you are looking for our Jobs site, please click here