Fashion chain Karen Millen’s Irish sales fall 6%

Retailer records sales of €5.9m in the year to the end of February 2016, accounts show

Accounts for Karen Millen Ireland Limited show that it broke even in the year to the end of February 2016. Photograph: Dave Meehan

Accounts for Karen Millen Ireland Limited show that it broke even in the year to the end of February 2016. Photograph: Dave Meehan

 

Fashion chain Karen Millen recorded sales of €5.9 million in its Irish stores in the year to the end of February 2016, down 6 per cent year on year in what the directors said was “a difficult retail environment”.

Accounts for Karen Millen Ireland Limited just filed to the Companies Office show that it broke even for the period, having made a loss of €100,000 in the previous 12 months.

The company closed its Grafton Street outlet in Dublin in early 2015, but continues to operate a concession in Brown Thomas in the capital as well as in Brown Thomas in Cork and Limerick.

Retail assets

It also has stores in Blanchardstown and Dundrum Shopping Centre in Dublin and an outlet in Kildare Village.

Karen Millen, led by chief executive Beth Butterwick, is owned by the defunct Icelandic bank Kaupthing.

In November, Reuters reported that Kaupthing planned to sell its other retail assets – the women’s fashion chains Warehouse, Oasis and Coast – and was looking at options for Karen Millen.