Philip Green and his family bought the 160-store BHS chain for £200m from the Storehouse Group in 2000. Sales nearly doubled between 2001 and 2002, but then rose by about 1% to £882m in 2003. Under Green and his team, however, gross margins have risen by 11.5% since the acquisition. Improving deliveries to stores and carefully managing stock to avoid discounted sales are the reasons for the improvement.
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