UK: Arcadia losses lead to 3,500 job cuts
The current price deflation across the UK's middle market is said to have contributed to the fall in Arcadia's revenues, whilst Principles for Men has also fallen victim to the rapidly growing trend towards dressed down casualwear. The chain currently trades through a total of 80 standalone shops and about 70 franchises in Arcadia outlets and Debenhams department stores. Principles' shops for women will remain open.
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High-street mogul Philip Green has given himself a record dividend of £1.2 billion after his fashion group Arcadia reported a modest increase in annual profits....
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Department store operator Debenhams is planning to grow its business into India, and is also considering expanding into the Chinese market....
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