Life Style Sports profits down nearly €2.6m

Fashion retailer Life Style Sports reported that its pre-tax profit for the year ended September 26, 2020 fell by almost €2.6 million in a period that would have been impacted by the Covid pandemic.

Lifestyle Sports (Ireland) Ltd (the stores are called Life Style Sports) reported a fall in sales from €11.7m to around €100.1m over the period, according to its latest financial results.

Profit before tax fell from EUR 6.1 million in the 2019 financial year to EUR 3.5 million in 2020.

Lifestyle Sports operates through several wholly owned subsidiaries representing around 40 brick-and-mortar stores. It also operates an online store under the domain name, through which it also conducts its international e-commerce business.

The results showed that Lifestyle Sports had 361 full-time equivalent employees at the end of 2020, up from 446 in 2019.

Lifestyle Sports also reported special charges of just over €679,000, up from almost €228,000 a year earlier, related to store closures and
restructuring costs.

The lifestyle retail business is owned by Stafford Holdings, which is owned by the Stafford family based in Bray, Co. Wicklow. The Stafford family acquired Lifestyle Sports in December 2005 for around €60 million.

According to Stafford Holdings results, also released last week, the company had sales of €105.4 million for the year ended September 30, 2020. Life Style Sports profits down nearly €2.6m

Fry Electronics Team

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