Topshop owner Arcadia continues to review its property portfolio as a number of leases across its vast estate are due to expire.
The group, which this morning posted a 3% fall in annual profits on a turnover of £143.1m in the year to 30 August, said it will review its UK property portfolio and has closed 64 stores and 213,000 sq ft of space over the past year, leaving the current store portfolio at 2,311.
It said that despite a strong performance from Dorothy Perkins and Wallis, the fall was a result of department store BHS, where losses increased from £21m this year to £19.3m the year before.
Arcadia owner Sir Philip Green said: “BHS remains challenging however, with this sector of retail continuing to be very tough, whilst strong growth online helped to underpin their performance last year.”
