Arcadia likely to close overseas stores first

Arcadia is understood to be planning to close a number of its overseas stores as it seeks to salvage its position. The retail group currently operates over 1000 stores,  which are mostly concessions or franchises, in 36 countries and suffered a near 20 per cent drop in its sales from international territories for the year to 2017. Losses are expected to have deepened for the year to 2018. The business which appears to be in free fall has also closed a third of its stores in Australia having already exited the Chinese market. The new raft of closures is being rumoured to be focused on the remaining Australian outlets, together with stores in the USA, Germany and The Netherlands.