Retailer Foot Locker posts annual loss in Republic

The US-owned company operates seven stores in the Republic, including its O’Connell Street, Dublin, outlet, which was hit by looters last month

Damage to Foot Locker on Dublin's O'Connell Street last month 

The Irish arm of Foot Locker, which was among the shops hit by looting in the Dublin riots last month, posted a loss last year.

The US-owned Foot Locker operates seven stores in the Republic, including its O’Connell Street, Dublin, outlet. 

The new accounts show the operator of the seven stores, Foot Locker Retail Ireland Ltd, posted a pre-tax loss of €115,000 in 2022, despite revenues having increased 16% to €11.5m. It had posted a profit of €161,000 in 2021.  

The company’s outlets include locations on Lower O’Connell Street, Grafton Street, Blanchardstown Upper Mall, The Square, Ilac Centre on Henry Street, and the Pavilions Shopping Centre, and an outlet in Limerick. It also, separately, operates a store in Belfast. 

The business sells brands that include Adidas, Nike, Converse, and Puma. In the accounts, the directors said despite disruption from the fallout of the pandemic, sales had increased in 2022. 

The accounts show the pre-tax loss of €115,000 takes account of combined non-cash amortisation and depreciation costs of €459,000.

Footlocker last year employed 23 people, with staff costs increasing to almost €1.2m. Its rates and levies bill came to a total of almost €104,380, and it spent almost €254,000 on marketing. 

Insurance costs increased from €37,933 to almost €46,970, while professional fees jumped to 439,160 from just €77,597 in the previous year. Other significant costs included lease costs of over €1.9m, up from €2.7m in 2021.