Children trouble Bhs boss Green
RETAIL entrepreneur Philip Green, who last week proudly announced a huge rise in sales at High Street group Arcadia, has seen a decline in one part of his empire.
Confidential figures obtained by Financial Mail on Sunday show that in the past six months the share enjoyed by Green's Bhs of the childrenswear market has dropped by 11% in value and 8% in volume.
Green bought Bhs from Storehouse for £200m just three years ago and his turnround of the group made him a billionaire in record time.
Within a year, he announced the highest profits in the chain's history - up 200% to £100m on sales of £850m. The strategy was to return to the store's roots by focusing on women in their 40s and 50s.
Green is expected to announce another strong set of results at Bhs next week with particular gains in womenswear. But according to figures from researcher Taylor Nelson Sofres, the childrenswear sector will disappoint.
Green is not alone. Marks & Spencer's sales of youngster's clothing are down 7% by value and 10% in volume. Woolworths' are down 6% by value and 7% by volume.
The winners in the sector are Next with a value gain of 32%, Matalan with 29% and Asda with 21%.
