'Testing times' for Topshop shoppers dent Irish arm
Published 16/04/2015 | 02:30
Fashion group Arcadia - the owner of brands such as Topshop, Miss Selfridge and Dorothy Perkins, above - narrowed its operating loss to €150,000 in Ireland last year but acknowledged that its consumers in this country are enduring "testing times".
Arcadia made an operating loss of €1.5m in the previous financial year.
Revenue at the Irish arm dipped 1pc to €19.5m in the 12 months to the end of last August, newly-filed accounts for the business show.
"Brands found trading conditions in Ireland extremely difficult," the company said.
"To counteract this decline in performance, the company has sought to reduce costs wherever possible."
It added: "The company is aware that its customers continue to face testing times, driven by challenging economic conditions.
"Our offer to our customers is continuously reviewed to ensure that our product mix, pricing and promotional stance are appropriate to market conditions."
Owned by billionaire British retailer Philip Green, Arcadia's brands also include BHS and Evans.
In its last group financial year, Arcadia saw its pre-tax profits fall 3.4pc to £143.1m despite sales rising just under 1pc to £2.7bn.