THE two firms behind the Shaws department store chain enjoyed contrasting fortunes last year, writes Gordon Deegan.
The firms operate 15 department stores across the country. Accounts recently filed by Shaw & Sons show that the firm's losses soared 54pc from €757,632 to €1.16m in the year to the end of January 2012.
The increase in losses follows revenues at the firm – which operates seven of the department stores – slipping from €23.3m to €23.1m.
Separate figures show a connected Shaw firm, which operates four department stores and Hadden's Shopping centre in Carlow, returned to profit last year.
Figures lodged by W & G Hadden show the firm recorded a pre-tax profit of €307,138 for the period. That followed a loss of €6.4m in 2011 that arose from a €7.3m property writedown.