Saturday 23 September 2017

No Mickey Mouse operation as Disney store profits bounce back

Staff at the Disney Store on Grafton Street for the launch of the new Star Wars merchandise from ‘The Force Awakens’ movie in 2015
Staff at the Disney Store on Grafton Street for the launch of the new Star Wars merchandise from ‘The Force Awakens’ movie in 2015
John Mulligan

John Mulligan

Disney's only main street retail store in Ireland - on Dublin's Grafton Street - got a spoonful of sugar last year as it posted a €204,000 profit. That reversed a €56,000 loss in the previous year, according to newly-filed accounts for the business here.

Sales at the Grafton Street store actually declined slightly in the year to October 1 last year, to €6.5m from €6.7m a year earlier.

But the store's profit performance improved last year as administrative and distribution expenses fell.

The group opened the Dublin store in 2011 after securing a premises that had once been occupied by a Laura Ashley outlet.

It's thought that Disney paid as much as €300,000 in key money to Laura Ashley.

Disney, whose summer movies this year included the animated 'Cars 3', had originally hoped to secure a nearby vacant Dunnes Stores premises.

Accounts for the Disney store show that it paid €1m in rent during its last financial year, unchanged from the previous period.

Disney opened a pop-up store in the Blanchardstown Shopping Centre in the capital late last year.

Disney said this week that it's going to stop providing new movies to streaming service Netflix and will instead launch its own platform.

Irish Independent

Also in Business