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Revenues at Ann Summers' Irish stores soar thanks to bumper sales

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Ann Summers has boosted sales by opening a fifth store

Ann Summers has boosted sales by opening a fifth store

Ann Summers has boosted sales by opening a fifth store

Bumper sales at the Blanchardstown and Henry Street Ann Summers stores contributed to revenues increasing sharply at the Ann Summers Irish retail operation to €3.46m last year.

New accounts show that revenues at Ann Summers Retail Ltd increased by 15pc from €3m to €3.46m in the 53 weeks to the end of June 30 last.

In a statement accompanying the accounts, CEO of the Ann Summers group, Jacqueline Gold said that she is pleased to report the 15pc growth in sales at the Irish unit and a 24pc reduction in operating losses to €702,522.

After paying interest charges of €73,718 the business recorded a pre-tax loss of €776,240 - down  28pc on the pre-tax loss of €1.07m recorded in fiscal 2017.

The principle activity of the business is the sale of lingerie, apparel, adult toys and related accessories.

Ms Gold said that the group continues to make significant investment in its Irish and UK operations including a new IT infrastructure, key flagship stores and a brand re-launch "all of which are part of a long term strategy to grow our business".

Ms Gold added: “We  continued to roll out our store refurbishment programme both in the UK and Ireland and our two new flagship stores in Blanchardstown and Dublin continue to outperform the rest of the estate”.

Ms Gold stated that “undoubtedly, the economic environment in which are trading continues to be challenging”.

Ms Gold added: “So whilst we know we face further challenging times ahead, with our new brand purpose and vision for the future. the re-branding work we are doing is already impacting everything we do as a brand and how we communicate with our customers.”

The company opened its Blanchardstown store in 2017 and this followed a new store opening on Dublin’s Henry Street in 2016.

The business shut down its flagship store on O’Connell Street in Dublin in December 2017- in the run up to the opening of that store 18 years ago, Ms Gold received a bullet in the post as part of the opposition to the plan.

Numbers employed at the business last year increased from 44 to 46 with staff costs increasing from €760,232 to €852,728.

The company incurred a foreign exchange loss of €73,933. The loss also takes account of non-cash depreciation costs of €103,552.

The firm’s operating lease rentals last year declined from €1.29m to €1.23m.

Accounts for a separate Irish Ann Summers firm, Ann Summers (Ireland) Ltd  show that it returned to pre-tax profit last  year of €48,914. This followed revenues at the Ann Summers ‘party-plan’ business increasing by 25% from €149,108 to €190,136 in the 53 weeks to June 30th 2018.

Ms Gold stated: “Our Party Plan business has had another successful year and continues to grow at pace.”

Online Editors