Prof­its at Ralph Lau­ren slump to just over €90,000

Irish Independent - Business Week - - FRONT PAGE - Gor­don Dee­gan

PRE-TAX prof­its at the main Ir­ish arm of fash­ion giant Ralph Lau­ren last year tum­bled by 58pc to €90,178.

New ac­counts show that Ralph

Lau­ren Ire­land Ltd’s pre-tax prof­its de­creased sharply af­ter the com­pany’s rev­enues dipped from €3.3m to €3.22m in the 12 months to the end of March last.

The firm op­er­ates a fac­tory out­let at Kil­dare Vil­lage, along with be­ing the Ir­ish com­mis­sion­aire of Swiss-based unit, Ralph Lau­ren Europe Sari.

The di­rec­tors state: “De­spite the open­ing of the new chil­drenswear out­let store in Kil­dare in Septem­ber 2016 and the re­fur­bish­ment of the Kil­dare men and women’s store dur­ing fis­cal year 2017, turnover has de­creased by 2.4pc in com­par­i­son to the pre­vi­ous fi­nan­cial pe­riod.”

The di­rec­tors state that the de­crease is due to the com­mis­sion rates earned from Ralph Lau­ren Europe Sari re­duc­ing from 34pc to 28pc while op­er­at­ing ex­penses have re­mained sta­ble in fis­cal 2018 at €3.133m.

The di­rec­tors state that they are sat­is­fied with the level of prof­itabil­ity achieved by the com­pany dur­ing fis­cal 2018 and ex­pect the com­pany to con­sol­i­date its po­si­tion in the out­let busi­ness dur­ing fis­cal 2019.

The profit last year takes ac­count of non-cash de­pre­ci­a­tion costs of €426,445 while op­er­at­ing lease ex­penses in­creased marginally, from €1.126m to €1.15m.

Staff costs last year in­creased from €1.1m to €1.23m, with the num­bers em­ployed de­clin­ing from 80 to 79.

Newspapers in English

Newspapers from Ireland

© PressReader. All rights reserved.