Not Quite Deathwatch: Arcadia profits tumble and 260 stores to close

24 November 2011

top shop If you’re a worker in an Arcadia store, you’re probably not having the best of days. That’ll be mainly because your company’s owner, Sir Philip Green has just announced that he’ll be closing down about 260 stores over the next three years. You all have a good day now.

Green has revealed the store closures through the national media along with a 38% drop in full year profits in the year to August. Arcadia, who include Top Shop, BhS, Burton, Dorothy Perkins and Miss Selfridge, still managed to make a fairly decent profit of £133m, but it’ll be curtains for some stores once their leases expire over the next three years.

Green, who is a government adviser and notorious tax scamp, is blaming the drop in profits on the warm autumn weather. You remember, when no one needed any clothes because we were all running around naked in the ‘autumn heat’.

The Arcadia boss said: “Trading conditions remain extremely challenging, with style, quality and value at the top of our agenda and more important than ever. Additionally, the warmest October and November on record have made autumn trading much tougher.” Yeah, but the figures go up until August. You dick.

TOPICS:   High Street News

10 comments

  • rostron71
    It's the retailers' own fault, they're continually trying to drag the seasons earlier and earlier in an attempt to boost sales. No-one wants to buy winter coats and jumpers during a warm August or September, likewise we're not desperately beating their doors down to fill up on shorts and t-shirts during an icy cold March or April. You'd think they'd have worked this out for themselves by now.
  • Phillip G.
    If you want to know how to get a knighthood, you simply evade taxes and keep Kate Moss fully stocked up in fags.
  • Haggis
    Burton's clothing is hideous. Topman's is incredibly overpriced for what it is. Bye bye Arcadia!
  • Dick
    > Top Shop, Burton This could go one of two ways ... either people on our streets will look more fashionable, or Primark will fill a gap. I know which way it'll go.
  • Alexis
    The warmest October on record was in 2001. The warmest November on record was in 1994. Natch.
  • blablabla
    Agree with Haggis regarding the horrendous clothing on sale in Burton. Totally gave up wanting to shop there when virtually every T-Shirt/jumper consisted of a stripy pattern of some sorts for about 5 yrs. Went into a store in the summer looking for some holiday shorts to be confronted by winter coats and jumpers (in early August!) and all the summer clothing either crammed onto the discount rails or lying in a mess on the floor. Topman is becoming equally as bad with their continued obsession with hooded jumpers and emo style.
  • JonB
    To give him the benefit of the doubt, 1st October was the hottest October day on record. Maybe he got confused after calculating how many shops he was going to close?
  • Mark C.
    I wonder if part of the problem is the fact that Top Man has given up offering reasonably priced, stylish and well made clothes, and now just sells faddish, overpriced crap for teenagers (who aren't in much of a position to go clothes shopping these days). I used to buy clothes in there all the time, but these days I mostly use Uniqlo, River Island and H&M, which are all doing far nicer stuff for less (and aren't entirely staffed by clueless dickeads with asymmetrical haircuts).
  • Pizza A.
    As a 30 year old male, i'm probably not their target market anymore but the quote below made me smile: “Trading conditions remain extremely challenging, with style, quality and value at the top of our agenda" In terms of quality, they are not much above Primark for me, all of the t-shirts and jumpers I have ever had from there have shrunk and look like crop tops on me... not an attractive look. And i'm only 6'1", nothing freaky. As for value - I was given a £10 gift voucher for Christmas and still haven't spent it because I refuse to then contribute an extra £30 to it for a pair of jeans where the crotch is at my knees and the seam down the legs twists around my legs more than a russian pole dancer on speed. Style... well thats debatable but agree with the above, hoods on everything... the jeans mentioned above...
  • Brad
    Got to agree with what alot of people are saying about Topshop, I used to get loads of bits out of there but in the last 2 years odd I find my self looking at the rails and thinking "..the fuck is that!?" and then walking back out, its almost like you should be dressing like a beige colour Dr Who in Topshop, they taken the fashion catwalk style a bit too far for me, Bow Ties as day wear for fuck sake! Im 28 before you ask and not quite past it yet.

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