A Ralph Lauren firm that operates an outlet store in Ireland recorded revenues of over $207, 000 per week , a report said.
New figures lodged by the Irish arm of the U.S. luxury brand show that the firm increased its revenues by 2% from over $10.5 million to nearly $10.8 million in the 12 months until March 29 last year, the Irish Examiner said.
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Pre-tax profits for Ralph Lauren Ireland Ltd during the year declined by 81% from over $910, 000 to about $167, 000, the report said.
The drop in profit is attributable to higher cost of sales, increasing by 13% from over $7 million to about $8 million, the Examiner said.
The directors’ report states that the company began trading in August 2007 as a factory outlet store in Kildare Village selling clothing and accessories, according to the Examiner.
It also stated that during last year, the firm operated as the Irish commissionaire of Ralph Lauren Europe Sarl, a Swiss-registered firm, and the commission rates earned were 33% during the first three months of the financial year and 24% as of from July 2014, the report said.
The report added that the directors are satisfied with the level of profitability achieved by the company during 2014, and expect the company to consolidate its position in the outlet business during 2015, the Examiner said.
