By  on September 6, 2019

LONDON — Topshop parent Arcadia Group swung into the red in 2018 with the company recording a loss of 114.4 million pounds as revenues shrank 4.5 percent to 1.82 billion pounds.

Arcadia, which is ultimately owned by Sir Philip Green and his wife Tina Green, had a bruising year due to declining profitability in stores, rising costs and lackluster sales.

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