Topshop/Topman is set to lose its CEO in the latest blow to parent company Arcadia. Former Burberry exec Paul Price resigned this week for personal reasons, the company said. Price is relocating back to the US.
Arcadia has opened a warehouse just for Topshop and Topman products, intensifying chatter around its intentions towards those and its other brands, but intended to support its Topshop wholesale ops, the company said.
Arcadia’s young fashion label Miss Selfridge saw losses widen to £17.5 million last year after it was forced to write down the value of loss-making stores. The brand also suffered a 15% decline in sales.
Arcadia has filed a new set of accounts at Companies House and it gives an insight into how bad trading has been at the business, with a swing to a loss last year. But it's talking up its growth focus for the future.
The heavily flagged arrival of Topshop on Asos is set to happen later this month with the Arcadia-owned brand debuting on September 30. ‘Brother’ brand Topman has been available via the online retail giant since June.
Adam Gough, event director at Jacket Required, has hinted at a number of changes for the upcoming edition, after last week’s show was hit by a heatwave and the ongoing political and economic uncertainty.