Tag Archives: philip green

Philip Green copies Osborne and blames failure on the weather

Ten months after George Osborne blamed a 0.5% fall in GDP on the weather, tax avoider and Topshop boss Philip Green has blamed his plummeting profits on an unusually warm November, saying that it will mean the closure of 260 shops.

Whilst news of Green’s financial underperformance has been widely reported, the similarity between his excuses and those of the chancellor seems to have gone unnoticed.

But where Osborne blamed the economic contraction in the final quarter of 2010 on the cold weather, Green has adapted the excuse for the warmer climes of 2011. He would have had ample time to get tips from Osborne, whilst writing a report and advising the government on efficiency and spending last year.

At least he has his £4.2bn fortune to fall back on.

UPDATE: Paul Waugh notes that Sir Phil has been holding forth on, erm, youth unemployment(!) at the same time as closing 260 stores.

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