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 has denied that Sir Philip Green is planning to break up his retail empire and said the turnaround plan is the key focus, despite a press report saying the firm is already separating shared functions.
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.
Primark may be one of the most successful fashion retailers in the UK (and beyond) at the moment, but given that it’s fully dependent on physical shops as it has no online operations, it's feeling the pain of high rents.