Europe South Asia Asia Pacific Americas Middle East Africa BBC Homepage World Service Education

Front Page



UK Politics







Talking Point

In Depth

On Air

Low Graphics

Wednesday, April 28, 1999 Published at 09:23 GMT 10:23 UK

Business: The Company File

Profits at top retailer collapse

The chain has not been the top choice for customers recently

Profits at Arcadia, the Burton Menswear to Top Shop retailer, have almost halved - reflecting the tough times retailers have faced on the high street.

Arcadia's underlying pre-tax profits slumped to £26.7m in the six months to February, down from £50m in the same period of the previous year.

Intense competition on the high street has already forced it to cut prices in its spring collections - and the group warned of challenging times ahead.

Profits warning

City analysts had predicted the slump in earnings. Arcadia, which also owns the Dorothy Perkins and Principles chains, stunned the stock market in January when it warned of disappointing profits.

However, the UK's second largest clothing retailer, held out some hope for a recovery on the high street by revealing that sales in recent weeks were ahead of the previous year.

Total sales edged up from £775m to £780m in the six months to February.

One area of significant growth for the company is the Internet - with over 90,000 new names added to the group's home shopping database and sales rising to £500,000. It expects to generate over £1m of Internet sales during its current financial year.

Advanced options | Search tips

Back to top | BBC News Home | BBC Homepage | ©

The Company File Contents

Relevant Stories

22 Apr 99 | The Economy
UK high street sales recover

20 Apr 99 | The Company File
Debenhams sales still slow

21 Jan 99 | The Company File
Retail woe sees more fashion victims

In this section

Microsoft trial mediator welcomed

Vodafone takeover battle heats up

Christmas turkey strike vote

NatWest bid timetable frozen

France faces EU action over electricity

Pace enters US cable heartland

Mannesmann fights back

Storehouse splits up Mothercare and Bhs

The rapid rise of Vodafone

The hidden shopping bills

Europe's top net stock

Safeway faces cash demand probe

Mitchell intervenes to help shipyard

New factory creates 500 jobs

Drugs company announces 300 jobs

BT speeds internet access

ICL creates 1,000 UK jobs

National Power splits in two

NTT to slash workforce

Scoot links up with Vivendi

New freedom for Post Office

Insolvent firms to get breathing space

Airtours profits jump 12%

Freeserve shares surge

LVMH buys UK auction house

Rover - a car firm's troubles