Topshop owner says trading "extremely challenging"

Arcadia Group, the private owner of Topshop, Miss Selfridge and BHS says it will be forced to close 260 stores in the coming year as tough conditions on the high street and higher input costs make life difficult for retailers.

Arcadia Group, the private owner of Topshop, Miss Selfridge and BHS says it will be forced to close 260 stores in the coming year as tough conditions on the high street and higher input costs make life difficult for retailers.

In 2010-2011 the group saw like-for-like sales down 1.8% and margins drop 1.8% compared to the prior year.

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