Profits set to shrink at Sir Philip Green’s Arcadia

 
Kasmira Jefford
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THE EMBATTLED retail sector will claim a fresh casualty this week when Arcadia Group, the conglomerate that includes Topshop, Dorothy Perkins and BHS, reveals that its profit has plunged by a third.

Billionaire chief executive Sir Philip Green is expected to report that pretax-profits at Arcadia have fallen to around £140m for the year to the end of August, down from £213m last year.

The results on Thursday this week will be further dire evidence of the consumer downturn, which has hit high street retailers this year.

Arcadia, which also includes Miss Selfridge and Evans, is one of the UK's largest privately owned clothing retailers with over 2,500 outlets.

In August, Sir Philip warned senior staff that profits would fall and that the market would be tough for some time.