Prior to the opening of its second Irish store in Limerick in May of this year, Decathlon Sports Ireland Ltd. continued its growth trajectory, according to newly released financial statements.
According to the directors' report, Decathlon is looking for properties or plots as part of its future developments in order to grow its Irish network to Cork, Galway, and even further in Dublin.
The French-owned retailer currently has two locations in this country, and its June 2020 opening at Ballymun in Dublin will be its best new country opening in terms of sales and foot traffic to a new store.
In May, the business opened its second location at Limerick's Parkway Retail Park. The 5,000 sq. m of retail space can accommodate 70 sports.
The increase in Irish revenues from €38.22 million to €38.56 million last year was considerably less than the 124% increase in revenues the year before, which was distorted by the company's Covid-19-affected performance in 2020.
The directors of the Irish company report that “the company managed to meet its targets for in-store and e-commerce sales during the year” under the leadership of Chief Executive Elena Pecos, who was appointed to the position earlier this year.
Ms. Pecos stated that both the Ballymun and Limerick stores are operating efficiently in a press interview in July.
“The Irish people trust in our brand,” she said.
Decathlon Sports Ireland Ltd. has served as the organization's supply hub for its European operations since June 2018.
According to the financial statements, the company's revenues increased by 13% from €6.6 billion to €7.47 billion last year. The firm's supply activities, according to the directors, have fully recovered from the pandemic's effects in 2020 and 2021.
The business's pre-tax earnings fell from €75.06 million to €20.49 million last year, a 73% decrease. A significant contributor to the decline in profits was a foreign exchange loss of €16.8 million as opposed to a gain of €22.47 million in 2021.
Based on a breakdown of revenue, €7.08 billion was made in Europe, €357 million was made in the “rest of the world,” and €38.56 million was made in Ireland.
No dividend was given out by the company.
The company had 188 employees last year, up from 150, and staff expenses went from €5.43 million to €6.8 million. reduced from €607,000 to €577,000 for directors.
The company had shareholder funds of €638.1 million at the end of last December, which included €138.1 million in accumulated profits.