The firm behind Victoria’s Secret’s Dublin store recorded a pre-tax loss of €31.65million.
Operating results for the flagship outlet on Grafton Street have been below expectation resulting in the business plunging into the red last year.
New accounts for the company behind the Grafton Street store, L Brands Fashion Retail Ireland Ltd, reveal the firm recorded a pre-tax loss in its first full year of the operation to the end of February 2 this year.
It arose from non-cash charges incurred by the company.
The outlet was opened to much fanfare with a queue of 500 shoppers waiting outside the store on December 5, 2017.
The business – boosted by the Christmas 2017 season income – clocked up average revenues of €3.88million or €64,666 per day in its first 60 days of opening here to February 3, 2018.
