Lifestyle Sports Eyes Profitability by 2025 After Revenue Growth

Directors at the sports retailer Lifestyle Sports anticipate a return to profitability in 2025, following a significant reduction in pre-tax losses. Recent financial reports filed by Lifestyle Sports (Ireland) Ltd indicate that losses halved from €2.4 million to €1.2 million for the fiscal year ending September 28, 2023. Despite a slight decline in revenue from €104.99 million to €104.18 million, the company has seen positive trends in revenue growth since the end of September 2023.

The company operates a total of 38 physical stores in addition to its online platform, lifestylesports.com. In their report, the directors highlighted that the business experienced a boost in profitability following the fiscal year-end, particularly during the crucial trading period that encompasses Black Friday and Christmas. They stated, “the company’s profitability continued with increased momentum post-year end and for the quarter ended December 31, 2024.”

Looking ahead, the directors are optimistic about the company’s financial health. They project that, based on current performance trends, Lifestyle Sports will return to profitability for the year ending September 27, 2025.

The retailer is part of the Stafford Group, based in Co Wexford. At the close of September 2023, shareholder funds for Lifestyle Sports (Ireland) totaled €40.87 million, though cash reserves saw a decline from €11.2 million to €8 million. This financial snapshot reflects both challenges and opportunities as the company navigates the retail landscape.

As Lifestyle Sports works towards its profitability goals, the focus remains on leveraging its online and physical store presence to capture consumer interest and adapt to changing market conditions. With a strategic approach to growth, the company is poised to enhance its position in the competitive sports retail sector.