Marks & Spencer has good reason to fear Philip Green, the Monaco-based entrepreneur who controls the Arcadia Group and also owns BHS, the department-store chain. Brands in the Arcadia portfolio include such high-street names as Topshop, Evans, Dorothy Perkins, Miss Selfridge and Burton, which Green bought in 2002 for £866m. The stores have enjoyed a surge in profits, thanks to Green’s tight rein on stock and supplies. Profits rose 63% a year from £65.3m in 2001 to £283.9m in 2004.
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