The closures come after Arcadia reported a 40% drop in profits this winter with Green insisting that new opportunities will arise in the meantime but for now out of the 540 stores with leases waiting to be renewed, only 250 will remain. '"We have got - from my memory - 450 or 460 stores where leases expire in the next three years, and I think on our latest summary we will close more than half of those on lease expiry. So I would say, I would expect us to close 250, 260. Now, there may be other opportunities that turn up that we might want to open. But certainly, in terms of our existing portfolio, currently that's our thinking.''
'"It's been the hottest October and November in history, nobody can deal with that. Winter goods are tough. Trading conditions remain extremely challenging, with style, quality and value at the top of our agenda and more important than ever. I do believe everybody today is more financially aware than they've ever been in their life."
Yes, we are financially aware and yes it is challenging out there - but maybe some of us just got sick of being charged the unbelievably high prices that Topshop seem to think its okay to charge for basic high street goods. I don't believe the UK realise how expensive Topshop is in Ireland! You don't want your business to drop by 40%? Then lower your prices like the rest of the high street has done! It's funny, Urban Outfitters, who also haven't lowered prices, are also reporting a drop in sales....hmmm....
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