Hollister and Abercrombie & Fitch to suffer a new decline in sales and profits

  • Hollister and Abercrombie & Fitch to suffer a new decline in sales and profits
    Independent.t. E.
    Profits and revenues at the Irish arm of the largest us clothing brands Hollister and Abercrombie & Fitch fell for the fourth consecutive year.
    https://www.independent.ie/business/irish/hollister-and-abercrombie-fitch-suffer-new-slump-in-sales-and-profits-37268677.html
    https://www.independent.ie/incoming/article37268925.ece/aee0e/AUTOCROP/h342/ambercrombvie.jpg

  • Email

Profits and revenues at the Irish arm of the largest us clothing brands Hollister and Abercrombie & Fitch fell for the fourth consecutive year.

New calculations show that profit before tax in f Hollister Ltd fell by 29pc, going from €403,171 Euro 286,231 for 12 months to 3 February this year.

Revenues declined over the past four years, down 13pc from €11.4 million to 9.9 million euros over the 12 months to February 3, decreased by €2.1 m 15pcs from €13.5 million in the previous year.

The drop in sales over the last four years has stopped the massive growth of the clothing brands USA had here in the startup of the year in the hollister shop company in the city centre and Dundrum Abercrombie & Fitch store in Dublin’s College green.

Madness welcomed the opening of the first flagship store in Ireland. Hollister in July 2011, with adolescents, with queues starting at 1: 15 in the morning, and this was followed by similar scenes at the opening of the first Abercrombie & Fitch store in November 2012.

In response to the decline in sales for two companies of the Irish stores, the number of employees in the company last year, dropped further, going from 220 to 178, part-time, absorbing most of the losses, a reduction from 201 to 162.

Staff costs last year increased marginally from €1.58 m to €1,59 m.

Another factor in the decline in profit was the jump in expenses under operating leases of the company, which grew from €1.48 m to €1.53 m.

Net profit the Company recorded non-cash expenses depreciation €801,079.

The firm recorded profit after tax of $ 211,624 after tax in the amount of 74,607 taken into account.

Last year, the profits accumulated profit of the company increased from €1.3 million to €1.6 m.

Shareholders ‘ funds amounted to €6.2 m Cash of the company decreased sharply from €3.15 m to €519,976.

Online Business Classes