Subscribe to our e-newsletter
Follow us on Twitter
Privacy and cookies
Established 1996
Thursday 28 May 2020


Topshop profits fall £500m amid online shift

Written by Hannah McGrath

Losses at Topshop and Topman deepened to £505 million in the year to September 2018 after the parent company of Philip Green’s Arcadia retail empire reported a loss of £177.3 million.

Topshop and Topman posted losses of more than half a billion pounds at the fashion brands compared to a loss of £3.9 million the previous year, with sales down nine per cent to £847 million.

The results came after the annual report for Taveta Investments, the holding company for Arcadia Group, cited challenging conditions for the High Street as fashion retailers continue to battle growing competition from online rivals.

The report stated: “The retail landscape has changed dramatically over recent years and the increased competition from other High Street and online retailers in particular has had a significant impact on our performance.”

In a bid to keep up with consumer trends for online shopping, Topshop and Topman are set to launch clothing and accessories on Next’s website in the coming months. Topshop and Topman launched on ASOS’ online marketplace last year.

Earlier this month, Arcadia Group denied reports in the Sunday Times that it is gearing up to sell off brands including Topshop and Dorothy Perkins, as the company embarks on a series of seven Company Voluntary Arrangements (CVAs) as part of a restructuring plan aimed at shoring up its financial future.


RS Winners brochure

Find out how HULFT can help you manage data, integration, supply chain automation and digital transformation across your retail enterprise.

Talking shop: retail technology solutions from Brother
Retail Systems editor Peter Walker sits down with Brother’s senior commercial client manager Jessica Stansfield to talk through the company’s solutions for retailers and hospitality businesses, what’s new in labelling technology, and the benefits of outsourcing printing.
Most read stories...
World Markets (15 minute+ time delay)