Arcadia's share price has risen six-fold since Stuart Rose, ex-chief executive of supermarket chain Iceland Group, took over in November.

Mr Rose was given targets of Arcadia's share price reaching 90p, 180p and 270p when he took over the business.

And Mr Rose managed to hit all three targets and continues to take the business from strength to strength.

Now investors are hopeful that Mr Rse can squeeze further costs out of the business which owns Top Shop, Dorothy Perkins, Burton and Miss Selfridge.

Four of its chains, Warehouse, Principles, Hawkshead and Racing Green are to be sold in a management buyout by August.

They are being sold because they no longer sit well alongside Arcadia's core chains.