Global Retail Alliance
info@gra.world
  • Login
  • Register
  • Newsletter
  • Virtual Library
  • Choose your country
    • Australia
    • Brazil
    • China
    • Poland
    • Latin America
    • Middle East
GRAGRA
  • Home
  • Membership
    • Silver
    • Gold
    • Platinum
  • Event
  • News
  • Retail Tour
    • Our Tours
    • Europe Retail Tour
    • Retail Tour – New York
    • Retail Tour – Düsseldorf
  • Contact
  • Home
  • Membership
    • Silver
    • Gold
    • Platinum
  • Event
  • News
  • Retail Tour
    • Our Tours
    • Europe Retail Tour
    • Retail Tour – New York
    • Retail Tour – Düsseldorf
  • Contact

Retail News

  • Home
  • Retail News
  • Topshop and Topman swing to loss as retail woes continue

Topshop and Topman swing to loss as retail woes continue

  • Categories Retail News
  • Date May 24, 2018
  • Comments 0 comment
When it comes to Arcadia results, the question most people really want answered is ‘how well did Topshop do?’

And the answer came on Wednesday with news that Topshop – and its menswear sibling Topman – made a loss of nearly £11 million in the year to August 26. 

Its latest set of accounts filed at Companies House showed that issues such as costs linked to leases on lossmaking stores, as well as lower turnover, transformed the prior year’s £59.4 million pound profit into a loss of £10.8 million for the 12-month period.

The revenue fall was significant too, dropping 6% to £933.6 million from £990 million. 

The news came just a week after Topshop owner Arcadia’s own parent company, Taveta Investments, had reported a 42% drop in profits and a 5.6% sales fall. And it seems that the bigger profit and sales drops at Topshop/Topman mean that the jewel in Arcadia’s crown is also its biggest problem child at the moment.

But the company clearly isn’t taking its problems lying down and last year ex-Burberry executive Paul Price was brought in to run the operation, while the company also changed key senior design staff.

We won’t know for some time whether those changes have sparked any kind of improvement at Topshop more recently and we have few details about what actually went on last year. What we do know is that the retailer remains focused on exiting lossmaking stores and in the accounts, it said it has increased its provision for unprofitable locations from £730,000 to £4.2 million.

http://hk.fashionnetwork.com/news/Topshop-and-Topman-swing-to-loss-as-retail-woes-continue,980393.html#utm_source=newsletter&utm_medium=email

  • Share:
gsiino

Previous post

Kohl's launches rewards program, combining 3 elements
May 24, 2018

Next post

Selfridges wins back world's best department store title
May 28, 2018

You may also like

Private-LAbels-fashion-luxury
Private labels: the future of luxury department stores?
6 March, 2023
EUROSHOP_2023_WEB-1200×857
Euroshop 2023! Top 75 Specialists & Key Highlights
4 March, 2023
Euroshop-Award
EuroShop RetailDesign Award 2023: Jury of experts honours the best store concepts
27 February, 2023

Leave A Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search News:

News category:

News Archive:

Last News:

Celine Shop-In-Shop Opening – Paris
15Mar2023
Private labels: the future of luxury department stores?
06Mar2023
Euroshop 2023! Top 75 Specialists & Key Highlights
04Mar2023
TOTEME Shop-in-shop in Seoul
03Mar2023
Y-3 opens its first ever store Down Under
03Mar2023

© 2022 Global Retail Alliance | info@gra.world | Privacy Policy