Life Style Sports profits have dropped by roughly €2.6 million

Life Style Sports, a fashion retailer, recorded a profit before tax of roughly €2.6 million in the year ended September 26, 2020, a period that would have been impacted by the Covid epidemic.

Life Style Sports, a fashion retailer, recorded a profit before tax of roughly €2.6 million in the year ended September 26, 2020, a period that would have been impacted by the Covid epidemic.

Lifestyle Sports (Ireland) Ltd (the stores are branded Life Style Sports) recorded a €11.7 million drop in turnover to roughly €100.1 million in the quarter, according to its latest financial statements.

Its profit before tax decreased from €6.1 million in 2019 to €3.5 million in 2020.

Lifestyle Sports is represented by roughly 40 brick-and-mortar locations through numerous wholly-owned subsidiaries. It also has an internet store with the domain name ‘lifestylesports.com,’ through which it conducts international e-commerce.

According to the findings, Lifestyle Sports employed 361 full-time equivalents at the end of 2020, down from 446 in 2019.

Lifestyle Sports also recorded exceptional charges of little over €679,000 for shop closures and restructuring costs, up from about €228,000 the prior year.

Stafford Holdings, which is situated in Bray, Co Wicklow, is the owner of the Lifestyle retail business. Lifestyle Sports was purchased by the Stafford family in December 2005 for roughly €60 million.

Stafford Holdings had a turnover of €105.4 million in the fiscal year ending September 30, 2020, according to results announced last week.


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