Month Arcadia: Profits Slide and Avenue Stores

month arcadia: Vornado is the landlord of Topshop's Broadway and Fifth Avenue stores, which were closed after Arcadia's US arm went into administration last month, according to The Guardian. Arcadia, which employs about 17,000 people and owns Dorothy Perkins, Miss Selfridge, Evans, Topman, Wallis and Outfit as well as Topshop and Burton, has seen sales and profits slide amid rising competition and costs as well as years of underinvestment by Green. New York-based Vornado has filed papers at the high court challenging two of the seven restructuring deals approved by Arcadia's creditors last month. Quick guide Why are UK high street retailers in trouble Show Hide What's the problem Physical retailers have been hit by a combination of changing habits, unseasonably warm weather, rising costs and broader economic problems. 2018 saw the disappearance of Toys R Us, Maplin and Poundworld as a result. The likes of Amazon have an unfair advantage because they have a lower business rate bill, which holds down costs and enables online retailers to woo shoppers with low prices. In terms of habits, shoppers are switching to buying online. (news.financializer.com). As reported in the news.