Stuart Rose: "We can't run 13 brands effectively"

"We have made significant progress in our review of the business and the re-shaping of the Group is now underway," said Stuart Rose, chief executive.

The company launched a major corporate restructuring a year ago, cutting 450 of its 2,200 stores and axing 3,500 jobs.

"The decision to simplify the business will enable us to focus on our core brands and the proposed sale of the niche brands takes us forward in this aim," said Mr Rose.

"The others are still good businesses, but we can't run 13 brands effectively," he added.

Arcadia brands

Burton Menswear Dorothy Perkins Topshop Evans Principles Racing Green Hawkshead Miss Selfridge Wallis Warehouse Outfit

Arcadia owns some of the UK's best-known High Street brands, including Top Shop, Burtons Menswear, Evans and Dorothy Perkins.

The UK's second largest clothes retailer, which has about 10% of the UK clothing market, had been expected to announce a clearance sale of its less successful brands.

For most of last year, its share price has struggled to rise above about 40p. On Thursday the stock jumped 13% to 218.5p by 0900 UK time (0800 GMT).