Sir Philip Green has named Burberry's ex-chief merchandising officer Paul Price as CEO at the Topshop/Topman business with a remit to grow globally and expand its digital footprint. But will it also move upmarket?
A new report from The Pensions Regulator has claimed that Sir Philip Green sold BHS to Retail Acquisitions for £1 in 2015 to avoid taking on the liability for its pension scheme if the retailer collapsed.
Sales and profit at Arcadia fell last year according to press reports, with the retail giant seeing the same squeeze as many peers. Reports also suggest it is seeking a new strategy to battle pureplay e-tailers.
Topshop isn’t giving up on Australia with news that brand owner Arcadia Group is in early talks to take control of the failed Australian Topshop and Topman operation following its voluntary administration filing.