EBITDA stood at £0.2m, compared with £4.9m in 2024.
Loss before tax almost doubled (91.8%) during the year to £7.4m from £3.9m the year prior. Turnover experienced a less acute decline of 3.1% to £137.6m, with gross profit similarly edging down 3.1% to £66.1m.
The group, which owns footwear and accessories retailer Dune London, cited a “challenging and unpredictable trading environment” as the driving force behind its performance.
However, the business said that it is “trading strongly” in the autumn/winter 25 season, “with double digit positive like-for-like sales on the back of excellent demand for boots and handbags”.
Its UK performance was dented by “challenging in recent years against a soft consumer backdrop and the legacy challenges of UK high street retail”, but this has been offset by the closure of certain “unprofitable” stores and the aforementioned uptick in like-for-likes.
UK omnichannel performance has been “strong” with digital sales growing 9% in the year to the end of January 2025 amd 14% in the current year. Dune says it will continue to invest heavily in its digital platforms . It highlights trading through third-party partners as being “particularly strong”, which the business sees as a “key source of growth” both in the UK and globally.
Dune’s international business now represents 35% of overall retail sales, bolstered by partnerships with Nordstrom and Dillard’s department stores in the US and Zalando in Europe.
The group said it is “pleased with the progress delivered as it goes through the major transition from UK footwear retailer to global footwear and accessories brand”.
Daniel Rubin, who founded Dune London in 1992 and is group chairman, said: “I am excited about the prospects for the Dune London business – on the back of the strong current trading, the growth of our handbag sales and most importantly, the success of Dune London in international markets.
“The past few years have been challenging for the business. The combination of weak consumer demand, big increases in our cost base, not helped by the government’s ill-conceived increase in national insurance, whilst going through a major transition, has been painful. However, the group has turned a major corner in realising its ambition to become a global footwear and accessories brand.”
