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IRISH HOME ENTERTAINMENT outlet Golden Discs has returned to profit, posting an annual gain of €208,979 for the year ending in June.
Turnover in the year grew by 40% and numbers employed were one quarter higher than this time last year, with 100 people now working in the company’s 17 outlets around the country.
Golden Discs added six shops to its portfolio in the last year, and changed its product mix to take advantage of new customer habits, introducing a range of new items for sale.
Like-for-like sales at the retailer grew by 7.5% over the period, with an improved gross margin making up for a decline in turnover.
According to the retailer, it is the only Irish-owned home entrainment chain.
Group managing director Stephen Fitzgerald said “changes to our product mix and customer orientation enhanced margins and the continuation of an aggressive cost cutting programme yielded significant benefits”.
The retailer said that its results “significantly outperform” suggestions by music sales monitoring site Chart-Track which suggest that CD and VD sales declined by over 30% in 2013.
Golden Discs said that it remains “cautiously optimistic” about the current financial year, with a strong release schedule from labels and studios expected to prop up sales as the year tapers out.
“Initial indications are for a strong fourth quarter with key album releases from U2, Rihanna, The Script, Take That and One Direction. On DVD, Mrs Brown’s Boys, Love Hate, X-men and a variety of box-sets and comedy titles are expected to perform very well.”
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What about the people of Indonesia? Are they ok? but i guess we have to have an article about Darwin because its in the 1st world.
@Dónal MacAonghusa:
As long as everybody is safe and well down at the local Christian Caucasian yacht club, that’s the main thing.
@Dónal MacAonghusa: the article quite clearly states re Indonesia “there were no reports of any casualties or any major damage” maybe read the articles in future before you start crying like a little baby.
@Dónal MacAonghusa: you’ve obviously never been to Darwin!
@Dónal MacAonghusa: true. Reportage is very poor in over populated countries. However, it’s Mother Nature’s way of putting things right that humans are putting wrong.
@Tim O’Brien:
doesn’t fit with the narrative for some
@The Guru: I lived there for 2 years on the espionade back of shags. Glad everyone is ok. Darwin is been in the news a bit the past few weeks.
Not the only area to he hit unfortunately. More news hopefully later
have your say