Arcadia reports 6.1% drop in profits

Arcadia Group, owner of Topshop, Dorothy Perkins and Miss Selfridge, has reported a 6.1% drop in operating profit for the full financial year. It fell from £293.3m last year to £275.3m for the 12 months to August 30.

The group, which is led by Sir Philip Green, also saw a fall in total sales across all of its UK stores, which also include Topman and Burton, and international franchises. Sales fell by 0.6% to £1.8bn, while like-for-like sakes, excluding new openings, fell by 2.8%.

Pre-tax profits for the full-year were £188.9 million, down from £199.2 million in 2007.

Arcadia says turnover is also down by 1.8 per cent in the first seven weeks of the new financial year.

Green is currently negotiating with Bauger – the Icelandic investor that has a 49% stake in Oasis, Principles and Karen Millen-owner Mosaic Fashions – and others to buy Bauger’s debt.

Green says:” Our leading fashion brands, Topshop, Topman and Miss Selfridge, had an excellent year producing record turnover and profit. The mainstream brands had a more challenging time being additionally impacted by the unseasonal conditions.”

Latest from Marketing Week

NOT REGISTERED? IT'S FREE, QUICK AND EASY!

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

THE BEST CONTENT

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.

THE BIGGEST ISSUES

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.

PERSONAL AND PROFESSIONAL DEVELOPMENT

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 3711 or email subscriptions@marketingweek.com

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