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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/11/arcadia-posts-104-profits-boost.jpg"><a href="http://londonglossy.com/wp-content/uploads/2010/11/City-6-12.jpg"><img class="alignnone size-full wp-image-1010" title="Arcadia profits up" src="http://londonglossy.com/wp-content/uploads/2010/11/City-6-12.jpg" alt="" width="200" height="199" /></a><br />
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<p>Sir Philip Green&#8217;s fashion empire has revealed higher profits despite difficult conditions on the high street, with Topshop and Topman enjoying record years.</p>
<p>Arcadia Group&#8217;s operating profits increased 10.4% to £279.6 million in the year to August 28, on sales up 40% to £2.8 billion.</p>
<p>However, UK like-for-like sales growth at the group &#8211; which also includes Bhs, Miss Selfridge, Burton, Dorothy Perkins, Wallis and Evans &#8211; has declined in recent weeks.</p>
<p>Sales through stores that have been open for more than a year were up by 1% in the past 11 weeks, whereas they had grown by 1.3% over the group&#8217;s financial year.</p>
<p>In a statement, Sir Philip said he was cautious about the year ahead because of increases in VAT, business rates, raw materials and wages.</p>
<p>Fashion retailers including Primark, Next and New Look have all recently warned that the cost of clothes will rise in the coming months after a near doubling in the price of cotton.</p>
<p>Sir Philip said his two leading brands, Topshop and Topman, had reported record turnover and profits in the year.</p>
<p>But Bhs&#8217;s performance trailed behind the rest of the group, with like-for-like sales growth of 0.9% in the year, compared to 1.5% in the rest of the group.</p>
<p>This was despite the company having created 215 concession departments within Bhs, mainly for its Wallis and Dorothy Perkins brands.</p>
<p>The group runs 2,542 company-owned stores and 579 franchises. It trades in 37 countries.</p>
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