Ego in Arcadia
THE genial John Hoemer has been expelled from Arcadia, and must regret picking this name for the string of fashion chains he took away from Burtons. It owns Top Shop and Dorothy Perkins and is bleeding money. After Marks & Spencer, Arcadia is our sec- ond biggest retailer of clothing, which makes this look a bad business for the pair of them to be in. There is more to their troubles than M&S's eccentric decision to show us Amy Davies's rear elevation as she greets the dawn. The big groups must order in quantity and in advance, placing their bets for next spring before the autumn has arrived. This was always hard, and fashion does not seem to work like that any more. Change has speeded up, the premium is on flexibility and quick response, and the winners will be small enough to be fast on their feet. Miss Davies is not the right model, although I dare say that Stuart Rose, who comes in as Mr Hoerner's successor with a fistful of share options, could line her up for Bottom Shop.
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