The two firms behind the department store chain Shaws reported mixed trading conditions last year, according to their latest accounts.
The Shaws chain, which was founded in 1864, employs about 1,000 people across 15 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 Laoighaire, Fermoy, Limerick, Mountmellick, Portlaoise, Roscrea, Tralee, Waterford, and Wexford.
Shaw and Sons, which operates eight of the group's outlets reported a slight increase in revenues of €24.7 million for the 12 months to the end of January 2015. This compares with revenues of €23.1 million for the same period a year earlier.
Pretax losses narrowed to €278,840 having jumped by 85 per cent to €1.3 million in the previous year.The company closed its store in Longford last January, having onlyopened it in August 2013. Company directors said they were hopeful that an improvement in economic conditions would result in improved results for the business in the years ahead.
Cost of sales for Shaw and Sons rose from €13.9 million to €14.9 million, the accounts show.
Employment costs, including wages and salaries, fell by €6.5 million to €6.39 million as employee numbers fell from 194 to 188 people.
Hadden
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, reported a pretax profit of €903,992 for the 12 months under review. This compares to €832,522 a year earlier.
The company, which did not disclose turnover for W&G Haddon, but which previously announced sales of €15.5 million for the 12 months to the end of January 2014, said employment costs were virtually unchanged at €3.9 million. W&G Haddon employs 109 people.
