Sales at US fashion retailers in buoyant sales growth

Sales at Abercrombie & Fitch stores open at least a year rose 13% in the US, beating the 3.6% average of analysts' estimates. It was part of a wider increase in sales at US retailers, which grew for a thirteenth straight month in September, beating analysts' estimates as consumers snapped up discounts at teen apparel chains during the back-to-school shopping season.

Gap sales unexpectedly dropped 2%, below estimates for an increase of 0.2%. Revenue from Gap's Old Navy brand sank 5% after a gain of 13% a year ago.

The figures reported by the companies are same-store sales, a key indicator of a retailer's growth because they exclude results from new and closed locations.

Bloomberg

Ashford Castle to add 14 bedrooms

Galway businessman Gerry Barrett has applied to add 14 extra bedrooms to the Ashford Castle Hotel in Galway. The hotel was bought by Barrett in 2008 for about €55m from a consortium that included philanthropist Chuck Feeney and Pittsburgh Steelers owner Dan Rooney. The castle dates from the 1200s and was founded by the Anglo-Norman de Burgo family.

Whitegate refinery losses narrow to $11.8m from $261m

Losses at the Whitegate oil refinery in Cork narrowed sharply last year, new accounts reveal.

The company made a pre-tax loss of $11.8m (€8.5m) in the year to end December 2009, from a prior-year deficit of $261m.

The 2008 figures were hurt by an impairment charge against its assets. Turnover dropped to $1.6bn from $2.9bn because of the steep decline in the price of its products.

The company said its 2010 results will benefit from the opening of a Bord Gáis power plant on its site.

"Along with lease income now received, it is expected that the refinery will see additional benefits from the natural gas connections to the plant, enabling the plant to substitute more expensive fuels," the company said.

Quinns won't comment on repaying interest

The Quinn family, which said last week that it "reaffirms its commitment to repay all debt that it owes", will not say if that includes interest payments due on the loans. The family owes Anglo Irish Bank about €2.8bn with the group owing a further €1.2bn. "They don't intend to add to what's in the statement," a spokeswoman for the family said.