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Thursday, 27 June, 2002, 13:15 GMT 14:15 UK
Clothes shops fare well
Top Shop store window
Top Shop is one of Arcadia's core brands
Clothes retailers Arcadia and Matalan have seen their sales rise.

The figures can be taken as evidence of the continued resilience of UK consumers.

Arcadia - the owner of Top Shop, Burton and Dorothy Perkins - saw like-for-like sales rise 8% in the first 17 weeks of the second half of the year.

Matalan saw its like-for-like sales rise 5.7% in the 17 weeks ending 22 June.

The figures represent a comeback for Matalan, which last year lost its chief executive Angus Munro, following a series of profit warnings.

"It's good news all round, but Matalan's shares are particularly encouraging," said Richard Ratner, retail analyst at Seymour Pierce.

Share boost

Shares in Matalan rose nearly 9% to 299p.

Arcadia has been helped by moves to focus on its six key brands.

Last year, the group sold Warehouse, Principles, Racing Green and Hawkshead to a management buy-out team.

Shares in Arcadia - which have climbed 35% in the last six months - rose 4p to 345p in early trade.

See also:

18 Apr 02 | Business
01 Feb 02 | Business
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