Profits drop at Irish arm of Hollister and Abercrombie & Fitch

Profits and revenues at the Irish arm of major US clothing brands Hollister and Abercrombie & Fitch, last year dropped for the fifth year running.

New accounts show that pre-tax profits at A&F Hollister Ltd fell by 15 per cent to €242,002 in the 12 months to the end of February 2nd of this year.

Last year, revenues dropped by 18 per cent from €9.9 million to €8.1 million. That is down just over 50 per cent from the €15.8 million revenues enjoyed by the company in fiscal 2013 as it cashed in on the hype surrounding the opening of its College Green store in November 2012.

Numbers employed by the company last year totalled 177, made up of 16 full-time staff and 161 part-time workers.

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Staff costs reduced from €1.59 million to €1.4 million. Last year’s accounts take account of operating lease costs of €1.53 million and non-cash depreciation costs of €850,678.

The company’s cost of sales reduced from €4.8 million to €3.38 million while administrative expenses reduced from €4.76 million to €4.48 million.

It recorded a profit of €192,308, after tax of €49,694 was taken into account.

Last year’s profit resulted in the company’s accumulated profits increasing from €1.609 million to €1.8 million. Its cash increased from €519,976 to €1.28 million.