| Arcadia set to close up to 260 stores as profits fall |
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Arcadia, the owner of Top Shop and BhS, reported a 38% fall in annual profits to £133m and says it expects to close up to 260 stores in the next few years.
Arcadia boss Sir Philip Green told the BBC the closures would come as store leases came up for renewal. It also reported same-store UK sales down by 1.8%. The group, which owns Burton, Dorothy Perkins and Miss Selfridge, said it expected heavy discounts on the high street this Christmas. |
