Feb 3, 2017
Karen Millen sales fall in Ireland but it finally breaks even there
Feb 3, 2017
A tough retail environment saw sales falling 6% in Ireland for UK fashion chain Karen Millen in its latest financial year. The company battled a challenging market for its stores in the Republic of Ireland with sales there dropping to €5.9m.
But at least the firm’s accounts for the 12 months to February 2016 showed the mid-market chain managed to break even, despite the lower sales. In the previous fiscal year it has lost €100,000.
The lower sales figure was understandable given that the company had shuttered its store in Dublin’s destination shopping area, Grafton Street, early in 2015. However, it maintains a number of standalones and concessions in the country.
The company has been steadily reducing its Irish losses. The prior year’s €100,000 loss was much better than the previous loss of €300,000.
But sales growth has remain elusive for several years. The brand generated turnover of €10.8m in Ireland back in 2011.
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