Profits and revenues at the Irish arm of twin US clothing brands Hollister and Abercrombie and Fitch fell for the fifth year running last year.
Newly-filed accounts show that pre-tax profits at A&F Hollister Ltd dropped by 15% to €242,002 in the 12 months to the start of last February. Revenue dropped by 18% to €8.1m. The company opened its first Irish Hollister store, in the Dundrum Town Centre, in 2011; followed a year later by its first Abercrombie and Fitch store opening on Dublin’s College Green.
However, while remaining profitable, the companies revenues have declined consistently in recent years as the excitement around the twin brand stores has faded.
Numbers employed by the firm last year declined by just one to 177, with the workforce made up of 16 full time staff and 161 part-time staff.
Staff costs reduced from €1.59m to €1.4m. The profits last year take account of operating lease costs of €1.53m and non-cash depreciation costs of €850,678.
Last year’s profit resulted in the firm’s accumulated profits increasing from just over €1.6m to €1.8m. The company’s cash increased from €519,976 to €1.28m.
The firm’s cost of sales last year reduced from €4.8m to €3.38m while administrative expenses reduced from €4.76m to €4.48m.