Shaws stores see mixed trading as new shop opens
Two companies behind chain of 16 stores across Ireland both made profits last year
The Shaws chain, which was founded in 1864, employs about 1,000 people.
The two firms behind the department store chain, Shaws, continued to see mixed trading conditions last year, according to newly filed company accounts.
The Shaws chain, which was founded in 1864, employs about 1,000 people across 16 stores, mostly in regional locations. The group operates close to 300,000sq ft in retail space in stores located in Athy, Ballina, Carlow, Castlebar, Drogheda, Dungarvan, Dún Laoghaire, Fermoy, Limerick, Mountmellick, Mullingar, Portlaoise, Roscrea, Tralee, Waterford and Wexford.
Shaw and Sons, which operates seven of the group’s outlets, returned to profit in the year ending January 31st, 2016, with the company recording a pretax profit of €121,124. This compares with a €278,840 loss in the prior year and a €1.3 million loss two years ago.
Turnover was up slightly, rising from €24.4 million to €24.7 million as the cost of sales remained stable at €14.7 million.
Employment costs, including wages and salaries, were unchanged at €6.3 million.
During the year under review, the company acquired a €8.2 million loan to open up the company’s latest store in Mullingar, Co Westmeath, which began trading in October.
Meanwhile, W&G Hadden, which operates another four of the Shaws stores, including Dungarvan, Carlow and Wexford, and also owns and operates Hadden’s Shopping Centre in Carlow, saw pretax profits slip to €745,420 from €857,309.
The company, which did not disclose turnover, recorded gross profit of €6.6 million, up from €6.59 million a year earlier.
Staff costs rose to €4.09 million for the firm, which employed 114 people.