By Matthew Chapman2019-07-18T05:00:00
Topshop owner Arcadia has pledged to invest significantly in its online operations following its CVA, but it needs to spend wisely to compete with its pureplay rivals.
The Topshop business has fallen on hard times in recent years and lost its position as the poster child of UK fashion retail to insurgent online rivals such as Boohoo and Asos.
In a 300-page document sent to landlords ahead of its June CVA, Arcadia blamed its recent woes on the “increasing switch from in-store to online shopping”.
Arcadia’s earnings have plunged from £215m to £30m in the last five years and like-for-like sales fell 9% last year as the company failed to keep pace with the competition.
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