asos has bought topshop, topman and miss selfridge in a deal worth nearly £300 million.e stores. it'll mean more empty buildings on high streets across the uk. here's our business correspondent emma simpson. asos is growing fast, a global online powerhouse. it is thriving in this pandemic, now it has snapped up some of the biggest names on the high street. we some of the biggest names on the high street-— some of the biggest names on the hiuh street. ~ ~ ., , , ., , high street. we know these brands really well- — high street. we know these brands really well. we _ high street. we know these brands really well. we have _ high street. we know these brands really well. we have traded - high street. we know these brands really well. we have traded them l high street. we know these brandsl really well. we have traded them on our website for many years. we know the customer and the market and these brands grew over 40% with us during the christmas period. we see this as a really natural thing. why don't you want the stores? asos was a born digital native, it is e—commerce onl

topshop, topman and miss selfridge, the prized assets of sir philip green's once mighty retail empireble to think that topshop won't be there any more, it was so much a part of my childhood. when sir philip green bought arcadia back in 2002, asos was just getting going, with annual sales of £4 million. by 2020, sales had leapt to more than £3 billion, having expanded all over the world. this pandemic has driven shoppers online. it was the final straw for arcadia, and asos swooped. we know these brands really well, we have traded them on our website for many years and we know this customer, we know this market. in fact, these brands grew over 40% with us during the christmas period so we see this as a really natural fit. why don't you want the stores? it is... asos was born digital native, it is e—commerce only. we are really good at e—commerce. stores are just not our model. its online rival boohoo doesn't want stores either. it is closing in on buying burton, dorothy perkins and wallace, the three remaining arcadia brands. british retail is being reshaped, at breakneck speed now, tha

it has actually been selling more pieces of topshop and topman clothing than the topshop topman storesdust made its historic debut at a runway for heavy bombers at the disused loring air force base in the far north near the border with canada. compared to other commercial rockets that now ferry astronauts to the space station, stardust 1.0 is very small, but cheap to fly. that makes space accessible to many more people. this launch carried experiments from a college and a business that wants to test an alloy for vibration. it will eventually launch satellites into space. right now there are freight trains to space like spacex and ula. there are medium—sized companies and rockets that are launching i would call them buses to space, with medium—sized payloads. but we want to be the uber to space. maine is well—placed for launching into polar orbit, but it's also really cold and that can cause its own problems. but anyone doubting maine's ability to establish itself as a key player in the increasingly diversion space industry should look at the history books. during the cold war with russ

asos has inked a deal to take over top shop, once a symbol of british retail success, topshop fell intodministration last year. along with the rest of philip green's arcadia group. and it's 13,000 employees. it was a dramatic fall from grace for the retail mogul. this monday, asos has announced it is buying topshop, top man, miss selfridge, and activewear brand hiit in a deal worth over 370 million euros. >> the acquisition of these iconic british brands is a hugely exciting moment for asos and our customers and will help accelerate our multibrand platform strategy. reporter: asos has not agreed to by any of the brand's 70 stores. around 2500 jobs will be kept. online, -- this online retailer is in talks to buy other arcadia brands. also discarding their shops. it sealed a similar deal for debenhams last week, covering the brandon website but not its shops. and loss of 12,000 employees. arcadia's collapse has been among the biggest corporate failures of the coronavirus pandemic so far. lockdowns have crushed an already struggling high street, accelerating the move toward internet shoppi

online retailer asos buys topshop, topman and miss selfridge.he deal doesn't include the shops, putting 13,000 jobs at risk. the cost of covid for children — a report suggests they stand to lose an average of £40,000 each in lifetime earnings becaue most are not in school. and coming up this hour, we'll speak to nicholas hewlett, a head teacher in south london who is coming out as gay during an online assembly this morning. there's been international condemnation of the armed forces in myanmar after they seized power and detained civilian politicians, including aung san suu kyi — the woman known around the world for decades as the face of the struggle for democracy in the country and who has, since elections in 2015, been widely recognised as its unofficial leader. myanmar, also known as burma, was ruled by the military until democratic reforms began in 2011. in november's election, aung san suu kyi's party, the national league for democracy, won enough seats to form a government, although she is banned from becoming president as her children ar

topshop, topman and miss selfridge, the prized assets of sir philip green's once mighty retail empire green bought arcadia back in 2002, asos was just getting going, with annual sales of £4 million. by 2020, sales had leapt to more than £3 billion, having expanded all over the world. this pandemic has driven shoppers online. it was the final straw for arcadia, and asos swooped. we know these brands really well, we have traded them on our website for many years and we know this customer, we know this market. in fact, these brands grew over 40% with us during the christmas period so we see this as a really natural fit. why don't you want the stores? it is... asos was born digital native, it is e—commerce only. we are really good at e—commerce. stores are just not our model. its online rival boohoo doesn't want stores either. it is closing in on buying burton, dorothy perkins and wallace, the three remaining arcadia brands. british retail is being reshaped, at breakneck speed now, thanks to the pandemic, but the changes will also have big repercussions for our high streets, as well as he

asos has bought topshop, topman and miss selfridge, in a deal worth nearly £300 million.s our business correspondent emma simpson. asos is growing fast, a global online powerhouse. it is thriving in this pandemic, now it has snapped up some of the biggest names on the high street. on the high street. we know these brands really well. we have traded them on our website for many years. we know this customer, we know this market and in fact these brands grew over 40% with us during the christmas period. we see this as a really natural thing. why don't you want the stores? asos was born digital native, it is e—commerce only, we are really good at e—commerce, stores are not our model. the stores are already closed but now they will never reopen. 7o were left, with some 2,500 job set to go. for many shoppers it's the end of an era. going to topshop was a rite of passage for my generation, you could go shopping on your own, you went to topshop and it was the whole experience, walking through the doors, the store, the music, it was a cool place to go and very much part of my chil

asos buying top man, topshop and miss selfridge, they are the top drawers of the arcadia empire. of the arcadia group, we know there is burtons, dorothy perkins and wallace, and we are told they could be an entire break—up of the arcadia group between boohoo and asos. there, you can see, top shop, top man and miss selfridge will have new owners. those brands will be integrated into the asos website. as we have said, it has been a dreadful time on the high street, debenhams as well, the arcadia administration meaning 13,000 jobs disappear so around 25,000 jobs at risk now. there is no confirmation about whether boohoo will buy those other brands in the arcadia group but confirmation asos buying top shop, top man and miss selfridge, paying £265 million for those crown jewels in the arcadia empire. £265 million for those crown “ewels in the arcadia empire.i in the arcadia empire. thank you, ben. in the arcadia empire. thank you, lten- let's — in the arcadia empire. thank you, ben. let's find _ in the arcadia empire. thank you, ben. let's find out _ in the arcadia empire. thank you,

thousands of jobs thousands ofjobs to go, online retailer asus buys topshop and three other brands but

you may also remember the other online fashion giant asos, that bought top man, topshop and miss selfridge stay closed. for sir philip green's retail empire, these eight chains are now moving online. it's huge shift in shopping, driven by our online shopping habits. it's reckoned today that all this empty retail space, reckoned today that all this empty retailspace, if reckoned today that all this empty retail space, if you add in the closure of debenhams stores, would amount to the equivalent of 194 football pitches. a lot of gaps to be filled. ., ,, , ,., ., ~ football pitches. a lot of gaps to be filled. ., ,, , ., ~ , ., the former first minister of scotland, alex salmond, will not now appear tomorrow at an inquiry being held by members of the scottish parliament on the government's handling of harassment complaints against him. mr salmond is locked in a dispute with the committee over what material can be published. alexandra mackenzie is in glasgow. why won't he appear tomorrow? alex salmond was due to appear at the holyrood enquiry into the government's handling of sexual harassment

dani: this is the trend, topshop, including the brands underneath them, top man, the total price tag,llion. we have to remember, -- they are only interested in the brand names of intellectual property, not the physical store so that means we could see hundreds of outlets closing, and they are buying this from the joint administers of arcadia. asos is funding this fully from cash so their balance sheets are strong enough to buy these brands. matt: thanks very much. dani burger on your stocks to watch. the market open is next and we do have futures pointing up across the board to kick off the week. we could see gains at the open on this monday. this is bloomberg. ♪ anna: welcome back to the european market open. a minute to go until the start of trading. filled with spikes. retail investors target sobered. back on track, astrazeneca increases vaccine doses to the eu. swedbank promises a dividend pop up. we will speak to the ceo, jens henriksson. matt: take a look at futures ahead of the market opened this morning. after some losses, losses across the board last week we see some optimism

the online fashion giant asos has bought the topshop, topman and miss selfridge brands from sir philipal native, it's e—commerce only. we're really good at e—commerce. stores are just not our model. the high street isn't dead at all. there are many high street stores that do a greatjob, have higher profit margins than asos and customers love them. but the shifts were already happening. the pandemic that we all have to endure has just accelerated that shift in certain areas. that's what we are seeing this week. full marks if you noticed i'm not in washington today. my trusty train from new york was cancelled this morning as the east coast is in the grip of a raging winter storm. an incredible epic blizzard. the pictures say it all. they are completely extraordinary. they are completely extraordinary. the east coast is completely surrounded right now. full of high winds and the dissertation cancelled in snow ploughs are out. we could get two feet of snow in total. by monday morning, snow started to fall across new york state, newjersey and pennsylvania. those first two states have declar

we know that a sauce brought the topshop, topminnow perkins brands.s he said, they will not take on the stores or the staff, so between those two brands, arcadia and the other one, manyjobs have other one, many jobs have disappeared other one, manyjobs have disappeared in the last week. we know it is really difficult for retailers on the high street, many have been able to open the door given the current osha —— given the coronavirus restrictions and our shopping is an increasingly online. in many cases they are cheaper online, and as you have been hearing elsewhere that is because online retailers pay a different tax structure and they�*re not susceptible to rent and overheads in the way that high street retailers are. and what is so interesting, report this morning suggesting that with the closure of the arcadia brands, it leaves 1.3 million m2 of vacant retail space on high street up vacant retail space on high street up and down the country. to put that in more manageable terms, it is 194 football pitches now lying empty on high street. the losers