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Beyonce's Topshop line to hit the shelves next spring

By Holly Williams

Sir Philip Green's retail empire has confirmed that its long-awaited clothing range with Beyonce will launch next spring.

Arcadia announced late last year it was teaming up with the global superstar for a 50/50 joint venture called Parkwood Topshop Athletic - a new fitness and streetwear brand.

News of the launch date came as Arcadia owner Taveta Investments - the company that holds Sir Philip's retail brands including Topshop, Dorothy Perkins and Burton - posted a 2% rise in underlying pre-tax profits to £202m for the year to August 29 despite flagging store sales.

Sir Philip said the results came amid "challenging times" as the group reported a 0.9% fall in UK underlying like-for-like retail sales over the year, with total comparable sales 0.7% lower.

It also revealed a darker picture so far this year, with sales dropping 2.3% in the first 10 weeks.

The results do not include figures for BHS, which was sold in March. Sir Philip offloaded the loss-making store chain to a consortium of little-known investors called Retail Acquisitions for a nominal sum reported to be as little as £1.

In its update on the Beyonce tie-up, Taveta said: "We are developing distribution for the launch of this exciting brand in spring 2016." Arcadia operates around 20 shops and concessions across Northern Ireland.

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