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Topshop parent company reports full-year 23.9% rise in digital sales

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Topshop parent company reports full-year 23.9% rise in digital sales
Topshop parent company reports full-year 23.9% rise in digital sales
Digital sales across Arcadia retail brands, from Topshop to Evans and Burton, grew by more than 20% in its latest financial year even while total sales stayed flat.

The company extended its online relationship with Zalando during the year, and said its digital wholesale business had expanded fast, with its brands now featuring on a number of partner websites. It said the sale of BHS earlier this year enabled it to focus on growing its businesses in the UK and internationally across digital as well as retail and franchise channels.

The update came as Arcadia this week reported total sales of £2.07bn in the year to August 29, up by 1.7% on the £2.03bn it reported last time.

UK retail like-for-like sales, which strip out the effect of store openings and closures, were down by 0.9% compared to last time but worldwide digital sales were up by 23.9%.

Chief executive Philip Green said: "The number of channels through which customers choose to purchase and engage with us continually evolves, thus increasing the complexity of our operations. Hence our continued investment in the business as our need for efficiency and speed to market is paramount."

Other highlights included the launch of a new joint venture with Beyonce, Parkwood Topshop Athletic, a global streetwear brand, and the trial of a new format that sees Dorothy Perkins, Burton and Evans outlets open in Tesco stores.
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