Arcadia hit by 16% fall in profits

Sir Philip Green’s fashion empire suffered a 16% fall in profits last year across brands including Topshop and Miss Selfridge.

The Monaco-based businessman is understood to be getting advice from leading firm McKinsey about boosting his Arcadia Group following the decrease in profit.

Green is reportedly spending £100m to boost the online shopping pull of his companies, including fashion brands Topshop and Dorothy Perkins.

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Taveta, which owns the Green family’s Arcadia Group of companies, filed its accounts on 31 May (the last day before incurring a late filing fee).

Arcadia has lost several of its top bosses recently, including Tophop managing director Mary Homer who left on Friday to run homeware group The White Company.

Other executives who have departed recently include Evans boss Fiona Ross, Burton’s managing director Wesley Taylor and Miss Selfridge creative director Yasmin Yusuf.

The slide in profit comes as the anniversary of the collapse of BHS approaches.

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