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Fashion retailer Arcadia Group posts 5% drop in sales
16
Apr '10
Fashion retail group, Arcadia, experienced at its Irish stores, a fall of five percent in sales in the year ending, August 2009. However, it's newly introduced brands such as, 'Topshop', performed well irrespective of recession.

The group is owned by British retail tycoon Philip Green and it garnered £68.6 million i.e. €77.6 million business, over the year, from its stores under the brand names, Dorothy Perkins, Topman, Topshop, Burton and Evans. Irish stores' pretax profits have slipped by almost one third, plummeting by about 30 percent to £10.6 million i.e. €12 million, as per results revealed by the Arcadia Group.

According to the company, it experienced extremely challenging trading conditions during this period in Ireland, particularly two of its brands, menswear stores, Burton and plus-size ladies retailer, Evans, that target the mainstream market, struggled hard to survive in the market.

In comparison its younger brands Dorothy Perkins, Topshop and Topman gave a far better performance. During the fiscal year, the company earned £8.9 million in profits from Irish stores, wherein the average number of workers was 936, slightly less than the number of workers in the previous fiscal.

As per figures, from the Central Statistics Office, during the year till August 2009, clothing, footwear and textile sales showed a slump of 17.5 percent.

Fibre2fashion News Desk

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