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Topshop setback adds to pressure on Sir Philip Green's retail empire – The Times, Google News

Topshop setback adds to pressure on Sir Philip Green's retail empire – The Times, Google News


Topshop was once considered one of the prize assets in Sir Philip Green’s Arcadia group but it has struggled against the rise of online rivalsTIM WIMBORNE / REUTERS

Topshopand Topman fell to a loss of more than £ 500 million last year in a further sign of the strain onSir Philip Green‘sretail fashion empire.

 

Pre-tax losses widened to £ 505. 1 million in the (weeks to September 1, 2018, from a £ 3.9 million loss a year earlier, according to accounts filed by Top Shop / Top Man Limited at Companies House yesterday.

 

The high street retailer’s figures were marred by exceptional items, including provisions for leases on loss-making stores. However, sales fell to £ 846. 8 million from £ 933 6 million in 2017.

 

Topshop and Topman were once considered the prize assets in the tycoon’s Arcadia group, which also owns Burton, Dorothy Perkins and Wallis.

 

However, they have struggled against the rise of online rivals including…

 

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