Mixed fortunes for UK giants in Irish market
The Irish stores of UK brands Wallis and Miss Selfridge enjoyed contrasting fortunes last year as Miss Selfridge returned to operating profit and revenues and profits dropped at Wallis Ireland.
According to accounts just filed by the Lady Tina Green-owned firms, Miss Selfridge Retail (Ireland) recorded a modest operating profit of £7,000 after revenues increased from £3.7m to £3.87m in the 12 months to the end of August.
Separate accounts lodged by Wallis Retail (Ireland) show that its pre-tax profits slumped from £1.8m to £262,000. Revenues fell by 9pc to £10.84m in the 53 weeks to the end of August 30 last.
Lady Green is married to retail tycoon Philip Green and they operate the Arcadia Group that also counts Top Shop among its brands.
During the year under review, Wallis closed down loss-making stores at Cruises Street in Limerick and on Grafton Street in Dublin.