A Ralph Lauren firm that operates a factory outlet store in Kildare Village recorded revenues of over €180,000 per week last year.
New figures lodged by the Irish arm of the US luxury brand show it increased its revenues by 2% to €9.5m in the 12 months to the end of last March. Pre-tax profits for Ralph Lauren Ireland Ltd declined by 11% from €144,151 to €129,384.
The firm commenced trading in August 2007 as a factory outlet store in Kildare selling clothing and accessories. The accounts disclose the firm paid a dividend of €500,000 in March of last year.
They also showed, during the period in question, the company operated as the Irish commissionaire of Ralph Lauren Europe, which is registered in Switzerland, and the commission rates earned were 24% for the entire financial year. The accounts state “all the sales were in Ireland”.
The directors’ report notes that management were pleased with the level of profitability by the company during 2015 and expect the company to consolidate its position in the outlet business during 2016.
The firm’s directors said they were “satisfied with the level of sales achieved, considering the bad economic climate in Ireland during the financial year”.
“The operating expenses remained at a similar level to last year,” they added. The profit last year took account of an operating lease of €1m and non-cash depreciation costs of €29,573. Numbers employed last year increased from 50 to 51 though staff costs decreased marginally from €743,163 to €741,352.
© Irish Examiner Ltd. All rights reserved