British High Street Brand Topshop Parent Company Profits Fell 3.4%

Topshop and Miss Selfridges and other UK high street brand parent Arcadia Group Ltd. as of August 30th, 2014 financial year results have been obtained recently.

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According to the annual report of Taveta Investments Limited, the holding company of Arcadia Group Ltd. and BHS chain stores, although the group's year-on-year sales increased by 0.8% to 2 billion 710 million pounds, the pre tax profit before the special items dropped 3.4%, from 148 million 100 thousand pounds in 2013 to 143 million 100 thousand pounds.

Gross retail interest rates fell by 60 basis points year-on-year.

Net profit fell sharply by 80% to 86 million 200 thousand pounds compared with the same period last year, mainly due to the additional 346 million profit gained from the sale of 20% stake in Leonard Green & Partners last year, and this year there was an additional 25 million pounds loss.

BHS chain store loss increased from 19 million 200 thousand last year to 21 million dollars.

The same store sales achieved 1.6% throughout the year.

Among them, Arcadia Group Ltd. increased by 0.7%, while BHS chain store increased by 3.6%, but the operation was still "very challenging".

E-commerce sales rose 13.4% annually.

By region, the same store sales in the UK increased by only 0.1%.

The group currently has 2311 shops in the UK, with a total reduction of 64 in the whole year.

The group's founder and chief executive, Philip Green, said in its annual report that the group's British business in the past year has been very successful, with the two women's brands in Dorothy Perkins and Wallis the most powerful.

He also pointed out that the retail industry continued to change rapidly, and the channels of customer choice continued to evolve, which increased the difficulty of the operation of the group.

But he expressed 296 million pounds in cash for the group in a sustained and difficult market environment

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In the first 10 weeks of the current fiscal year, group store sales fell by 1.2%. Philip Green blamed the decline on the reasons for the general weakness of British Retail peers: anti seasonal humid and warm weather.

The group currently has 7 Topshop and Topman outlets in the United States, including the newly opened flagship store in Fifth Avenue, New York, and two new stores in Houston and Atlanta next spring. The first European Topshop and Topman outlets will also visit Amsterdam in February.

In addition, Topshop and Topman have increased to 52 and 55 counters in the department store Nordstrom Inc. (NYSE:JWN) North Teth dragon, and this year's plan is a net increase of 55 counters.