Hugo Boss last year opened up its first shop on Dublin’s Grafton Street and pre-tax profits fell 38% to €357,849, as sales increased 15% to €10.8m.
Yesterday, the shares of the German-owned group plunged almost 12.5% in Frankfurt after saying it won’t return to growth worldwide until 2018.
The ailing German fashion house is embarking on a turnaround that includes eliminating brands, slowing down store expansion and selling more online.
According to the directors of Hugo Boss in Ireland, the firm continues to look for new retail opportunities in Ireland.
Separately, figures also show revenues at Hilfiger Stores Ireland Ltd last year increased 19% to €21.9m, as pre-tax profits fell 33% to €449,000. Hilfiger says it plans to open up new stores and concessions here.
According to the directors’ report for Hilfiger Stores Ireland Ltd, sales were last year were helped by relocating to the Dundrum Shopping Centre.
“There will be a focus on realising sales growth through existing stores with a steady or reduced cost,” according to the Hilfiger directors here.
Staff costs last year were unchanged at €3m even as staff numbers rose to 176.
The firm’s operating lease charges increased slightly, to €4.2m.
Separate figures filed by a third brand, Calvin Klein Stores Ireland Ltd show it posted a 41% increase in pre-tax profits to €78,403, as sales increased 41% to €3.92m.
The Calvin Klein local directors said sales rose “due a strong branding campaign and a new, larger store. This led to an increase in operating profit of 31.5% over the prior year.”
“Refits of the existing stores are planning for the coming financial year.
“Management [is] also focusing on areas of cost reduction in the coming year,” the accounts said.
Calvin Klein staff numbers rose by three to 31 people, while staff costs rose from €505,948 to €563,058.
It incurred operating lease charges of €382,158.