Ann Summers Irish stores in 15% rise in revenue

Ann Summers Irish stores in 15% rise in revenue
Jacqueline Gold with model Luci Victoria at the opening of the Ann Summers store on Princes Street, Cork. Picture: Gerard McCarthy

Ann Summers revenues at its Irish retail stores rose 15% last year but still posted an operating loss.

New accounts show that revenues at Ann Summers Retail Ltd increased to €3.46m in the 53 weeks to the end of June. 

It had an operating loss of €702,522, down sharply from the previous year.

Separate accounts for Ann Summers Ireland Ltd, its “party plan” business, show it earned a pre-tax profit of €48,914 last year.

Group chief executive Jacqueline Gold said in the accounts it continues to invest in its Irish and UK operations, including in computer systems and new-look stores “all of which are part of a long-term strategy to grow our business”.

After paying interest charges of €73,718, the Irish retail business posted a pre-tax loss of €776,240, down 28% from the loss of over €1m in fiscal 2017.

“We continued to roll out our store refurbishment programme both in the UK and Ireland and our two new flagship stores in Blanchardstown and Dublin continue to outperform the rest of the estate,” Ms Gold said.

It opened in Blanchardstown in 2017 and on Dublin’s Henry Street in 2016.

“So whilst we know we face further challenging times ahead, with our new brand purpose and vision for the future. the re-branding work we are doing is already impacting everything we do as a brand and how we communicate with our customers,” Ms Gold said.

Staff numbers increased from 44 to 46, and staff costs rose to €852,728.

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