Philip Green to integrate Bhs into Arcadia
LONDON (Reuters) - Retail billionaire Philip Green is integrating his Bhs department stores into his Arcadia clothing empire to make the businesses more streamlined and efficient, he said on Wednesday.
Green said logistics, property and finance functions would be consolidated and he would also press ahead with plans to include Arcadia brands, such as Burton, Dorothy Perkins, Evans and Wallis, in Bhs stores following a successful trial.
"This is work in progress. I believe we have the necessary skill and experience across the two businesses to make some strategic changes that will benefit the group as a whole, and further strengthen our position within the market place during a difficult retail climate," he said in a statement.
Bhs plans to open two more standalone homewares British Home Stores in Hull and Thanet in the autumn.
(Reporting by Mark Potter)
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