Mixed fortunes for Shaws department stores
Turnover falls 4 per cent at the biggest company within the group
Shaws employs 107 people and had employment costs of about €4 million, the accounts show. Photograph: Aidan Crawley
The two main companies behind the family-owned Shaws department stores had mixed fortunes in the year to the end of January 2013, with losses at one company, Shaw and Sons Ltd, offset by the profits recorded by the other main entity, W&G Hadden.
Shaw and Sons Ltd, which operates seven department stores, saw its turnover fall 4 per cent to €22.2 million, accounts just filed at the Companies Office show. But cost control helped it narrow its losses to €703,900, compared to almost €1.2 million in the previous period.
The company employed an average of 178 people in the year, up slightly on the year before, and had employment costs of about €6 million.
However, W&G Hadden Ltd, which operates four department stores and also owns and manages Haddens Shopping Centre in Carlow, reported a net profit of €836,800, compared to about €188,900 in the previous year. Its turnover edged up 1.2 per cent to €15.4 million during the period.
The company employs 107 people and had employment costs of about €4 million, the accounts show.
The directors said a continuing downturn in the Irish economy and the impact this could have on the spending power of its customer base was the most significant risk that the group faced.
Shaws, which opened a new store in Longford in October, now has 16 stores, as well as a head office in Portlaoise and central warehouse facility in Carlow.