09/01/2002

Top Shop and Dorothy Perkins Christmas profits soar

The Arcadia Group, the UK's second largest clothing group, has saw sales in its chain stores soar during the festive sales.

The group, which owns stores such as Top Shop and Dorothy Perkins, said sales in its main brands gained nearly 10 per cent during the 19 weeks to January 5 compared with a year earlier.

The company acknowledged that the recent cold weather boosted sales of winter clothes following an uninspiring autumn, and by reducing its retailing space by, removing unprofitable brands and stores, it also improved supply chain efficiency and cut debts.

Arcadia is currently in talks about a takeover by the smaller Icelandic retailer, Baugur, which is already a major shareholder in the group, however these discussions are not expected to conclude before the end of January. (MB)

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