River Island’s Irish revenues slump €32.4m due to Covid shutdown

Store performance has been ahead of expectations since reopening, directors say

The revenue drop was much sharper at the Irish stores than its UK outlets where revenues decreased by 31.7% to £576.4 million. Photograph: Alan Betson

The revenue drop was much sharper at the Irish stores than its UK outlets where revenues decreased by 31.7% to £576.4 million. Photograph: Alan Betson

 

Revenues at the Irish arm of clothing retailer River Island halved last year to €32.4 million due to Covid-19.

River Island operates 24 stores here and new accounts filed by River Island Clothing Company (Ireland) Ltd show the company recorded a pre-tax loss of €1.19 million in the 12 months to the end of December 26th last.

The company’s revenues decreased by 49.5 per cent from €64.14 million to €32.4 million.

The directors state that due to the pandemic, the company’s stores were forced to cease trading for four months during 2020 and the company saw further lockdowns during the first part of 2021.

They say store performance since reopening, whilst significantly down on the prior year, has been ahead of expectations. The revenue drop was much sharper at the Irish stores than its UK outlets where revenues decreased by 31.7 per cent to £576.4 million (€682.8 million).