GAP sales slump sees profits down 50% to €831k

The Irish arm of US retail clothing giant, GAP last year sustained a slump in sales and profits halting a number of years of sales growth here.

According to new accounts filed by GAP Stores (Ireland) Ltd, the firm recorded a 50% decline in profits last year going from €1.67m to €831,194.

The firm sustained the halving of profits after its sales declined by 3% to €11.6m in the 12 months to the end of January last.