TopShop Bleeds More Top Executives

After the high profile departure of Jane Shepherson, her replacement Karyn Fenn has also decided to resign after less than a year in her post. Whether she will seek "greener pastures" (Shepherdson is now working for eco-friendly People Tree), remains to be seen.

Arcadia boss, Phillip Green, is quick to set the record straight about TopShop's health, but with the departure of the store's finance and marketing directors soon to be follow, the diagnosis might not be so good.

Green wants it known though, he doesn't think Arcadia is in trouble. "If it's being said that I'm in crisis then let's think what that means," Green adds in an interview with The Evening Standard. "Crisis means you're running out of money, you've got serious associated problems and difficulties. I don't think it means having the ability to recruit people if two out of 45,000 leave, do you? Foot and mouth - now that's what I'd call a crisis - and I haven't got that."

Green has hired a 100 new employees to beef up his buying and merchandising divisions and has openly discussed plans to expand TopShop internationally with 3 stores slated to be opening in New York, including a Manhattan flagship. A franchised store will be opening in Moscow this fall.