The retail entrepreneur Philip Green and his family bought the 160-store chain for £200m from the Storehouse Group in 2000. Bhs is now reported to be valued at more than £1 billion, with the 2002 accounts showing sales of £876m and an operating profit of £128m. Bhs claims the turnround in performance has been built on introducing “premium value” product in all areas of the business. Green, who was ranked sixth in this year’s Sunday Times Rich List with £1,850m, also acquired Arcadia (see page 8) in October 2002 for £775m. He says the key to his success is simple homework: “It’s understanding the market, understanding how to buy, and the fundamentals that make the business tick – the key levers you’ve got to pull.”
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