Ann Summers back in black as recovery boosts lingerie sales
Accounts show retail chain on the rebound as it opens fourth Irish store
Ann Summers shop on O’Connell Street, Dublin: The company, which sells a wide range of lingerie and adult toys, said net assets at the end of June totalled €3.6 million, as against €3.5 million a year earlier. Photograph: Alan Betson/Irish Times
Turnover at the main Irish subsidiary of Ann Summers, which operates four so-called pleasure emporiums in Ireland, bounced back into profit in the 12 months to the end of June 2015, newly-filed accounts show.
Ann Summers Ireland (Retail) Limited, which caused outrage when it opened for business opposite the GPO on O’Connell Street, Dublin, almost 17 years ago, turned a €29,755 pre-tax loss in 2014 into a €149,269 profit last year while revenues remained stable at €2.4 million.
The company, which sells a wide range of lingerie and adult toys, said net assets at the end of June totalled €3.6 million, as against €3.5 million a year earlier.
Ann Summers announced plans to open a new shop opposite the Ilac Centre on Henry Street in Dublin city centre earlier this year. It predicted the new store would produce double its O’Connell Street shop turnover due to heavier pedestrian traffic. The company also has stores in Limerick and Cork.
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The company, which employs 31 people across distribution and retail, had staff costs of €495,717 last year.
A second Irish unit, Ann Summers (Ireland) Limited, saw profits rise 44 per cent in the 12 months to the end of June despite a decline in sales.
The company recorded pre-tax profits of €436,520 for the year, up from €308,748 in 2014.
Turnover at the division fell by 68 per cent over the 12 months, from €839,087 to €500,626.
Operating profit totalled €436,519, up 41 per cent on the €308,748 reported a year earlier.