Profits up at US brands’ Irish arm

Major US clothing brands Hollister and Abercrombie & Fitch continued to cash in on the hype around their Irish operations last year as pre-profits soared to over €700,000.

New accounts filed by A&F Hollister Ireland Ltd show its Hollister brand store at the Dundrum town centre and the Abercrombie & Fitch store at Dublin’s College Green recorded combined revenues of almost €320,000 per week last year.

The accounts filed show that the firm’s pre-tax profits rose by 54% from €457,063 to €702,839.

Revenues increased by 5% from €15.8m to €16.5m in the 12 months to the end of February 1. The €16.5m is more than double the revenues of €8.19m recorded in 2011.

According to the directors’ report, the “increase with comparison to the prior year are due a full year of operations for the Abercrombie & Fitch store”.

Numbers employed at the firm last year increased from 335 to 455, with staff costs increasing only marginally, from €3.02m to €3.08m.

Operating lease costs last year reduced from €1.86m to €1.45m. It recorded a post-tax profit of €580,859 after tax of €121,980 is taken into account.