Makeover boosts Bhs
BHS is beginning to reap the benefits from a revamp of the chain’s stores, billionaire retailer Sir Philip Green said today.
Sir Philip said Bhs has seen “very encouraging” results from the overhaul of 13 stores so far, with sales 12% ahead of the rest of the 100-strong chain.
But the retail tycoon denied himself a Bhs dividend payout for the third year in a row. He famously paid himself a £1.2bn dividend from his Topshop-to-Burton Arcadia clothing empire in 2005.
Sir Philip said a further six stores would be completed by the end of October, although plans to accelerate the refurbishment programme in the New Year depended on trading in the final quarter.
Bhs operating profits in the year to March 31 were up 3% to £50m, on sales 1.4% ahead at £872.5m, which the retailer said was “a good platform from which to develop”.
As well as store revamps, the chain has also made efforts to improve its clothing ranges.
The former British Home Stores opened for the first time in Brixton, south London, in 1928.
