Arcadia Group, the retail powerhouse that owns Topshop, Miss Selfridge, and BHS, revealed its financial results for the 52 weeks ended 29 August. The group saw pre tax profit of £213.6m, up 13.0% from £188.9m and an operating profit of £266.2m, up 2.1% from £260.7m. Total sales up 2.7% at £1,897.7m. UK like for like sales were level on last year.
Commenting on the announcement Sir Philip Green said: “I am pleased to report pre tax profits of £214m, up 13%, together with cash generation of over £330m, despite one of the most challenging retail landscapes that I have seen.
The Arcadia Group and all the people working in it can be proud of these results. An excellent understanding of the market place and of our different brands has combined to provide our customers with great product and an exciting store and online shopping environment. I believe the focus on operational efficiency, managing our costs and cash, together with the ability of our global supply chain, will enable the business to continue to grow.
Once again, our leading fashion brands Topshop, Topman and Miss Selfridge have had an excellent year, producing record turnover and profit. The Topshop and Topman teams also successfully delivered our first American store in Soho, New York in April of this year.
Having completed the integration of Bhs, the enlarged Group now operates from 3,115 owned and franchised outlets and trades in 34 countries. UK like for like sales in the first seven weeks of the new financial year were up 2.3%.
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