Topshop will not be opening in New York in time for Christmas after Sir Philip Green ran into building difficulties.

Green denied that the postponement of Topshop’s first furore into the US was down to economic conditions, saying that Topshop and Topman will be posting “the best results in their history” when figures are revealed in October.

The store, which will now open in spring, is located in a 150-year-old building.

Next month, Green will reveal figures for all the chains that make up his retail giant Arcadia – including Dorothy Perkins, Miss Selfridge and Evans – as well as for Bhs.