LONDON — Riding a wave of success with Topshop and Topman stores in the U.S., and shops-in-shop at Nordstrom, Sir Philip Green is in talks to take other brands in his retail stable across the Atlantic.
This story first appeared in the November 15, 2013 issue of WWD. Subscribe Today.
“We are having an American conversation about Wallis, and a couple about Dorothy Perkins,” said Green, referring to two of his women’s wear retailers. “Evans is at Nordstrom, and it’s a work in progress,” he added, referring to the plus-size brand in his stable.
On Thursday, Green revealed full-year results for his privately held Taveta Investments, Ltd., parent of his Arcadia and BHS retail businesses and of the women’s wear retail brands Miss Selfridge, Wallis, Dorothy Perkins and Evans. Underlying profit before taxes and exceptional items rose 0.5 percent to 167.8 million pounds, or $262.3 million, while like-for-like sales in the year ended Aug. 31 fell 2.7 percent to 2.74 billion pounds, or $4.28 billion.
Dollar figures are converted at average exchange for the 12-month period.
“Trading conditions remain challenging, therefore exciting and engaging our customer across multichannels is at the top of our agenda,” said Green Thursday.
The company also blamed unseasonably mild and damp weather for a 3.7 percent drop in like-for-like sales in the first 10 weeks of its new fiscal year from Sept. 1.
Regarding Topshop, Green said it is now present in 41 Nordstrom stores, and “there are further discussions to be had about expansion. Nordstrom is coming to London next week, and we’ll be talking about it.”
More stand-alone stores in the U.S. are also under discussion, he said, as are Kate Moss for Topshop pop-up shops.
Topshop is the group’s single biggest brand in terms of revenue, and over the past year Green has pushed it into new geographies including Hong Kong, South Africa, France, Holland and Germany.
“It is our intention to continue to drive overseas expansion through both owned, concession and franchise stores and through our international online business in the year ahead,” the company said.
Regarding his BHS general merchandise retail chain, Green denied recent press reports in Britain that suitors for the business have been circling.
“We are not in negotiations with anybody to sell the business. Speaking as a business man, if somebody turned up with an offer, of course I would look at it.”