Dune Group, a footwear specialist, has reported positive financial results after a loss in the previous year. The company’s EBITDA reached £2.9 million, a significant improvement from the previous year’s loss of £9.8 million. This turnaround can be attributed to the economic recovery following the pandemic. Additionally, Dune Group saw a significant improvement in its profit after tax, reaching £1.25 million compared to a loss of £13.3 million in the previous year.

The past year brought significant changes for Dune Group in terms of its stores and company structure. Despite these changes, the overall turnover increased to £78.571 million from £67.577 million in the previous 12 months. This growth was driven by a 29.4% rise in like-for-like retail sales, rebounding from a 30.8% decline in the previous year. However, online sales through the Dune website experienced a decline of 11.9%, contrasting with a 12.5% increase in the previous year.

During the pandemic, Dune Group had to temporarily close all of its UK and European stores and concessions. To address this challenge, the company implemented a company voluntary arrangement (CVA) in February 2021, which received full creditor support. As a result, most of its stores transitioned to a turnover rent-based model. Dune Holdings Ltd, the company’s parent group, also successfully renegotiated its bank facilities, securing a three-year term £25 million revolving credit facility (RCF).

Dune Group’s recovery following the pandemic has been promising, with many stores now achieving pre-pandemic sales levels. Throughout the year, the company continued its expansion efforts by opening six new outlet stores, one full-price store, and extending its online marketplace partnerships. However, the supply chain disruptions have posed challenges, leading to periodic stock shortages.

The pandemic provided Dune Group with an opportunity to review its strategy, focusing on enhancing the brand, improving margins, and reducing promotional activity. The company’s positive financial results indicate the success of this approach, and it aims to further embed it into its operations to strengthen the business and enhance profitability. Going forward, the company plans to continue implementing this strategy and introduce new products such as the Dune London kids’ range.

Dune Group is also eager to open new stores in high footfall locations once it can secure favorable rental terms, especially in locations where it no longer has a department store concession but previously did. The company also continues to invest in its online operations and partnerships.

Looking ahead, Dune Group sees significant growth potential for the Dune London brand and opportunities to improve profitability through new marketplaces, investment in e-commerce platforms, and an expanding UK store estate. As of the end of the reporting period, the company had 50 stores and 73 concessions, compared to 46 stores and 124 concessions in the previous year. This change was due to the closure of Debenhams stores and the transition of House of Fraser from a concession model to a wholesale account. Moreover, Dune Group recently underwent a corporate reorganization, simplifying its group structure with a new holding company and separate brand and operating entities.

For more information on Dune Group’s financial results, check out these links:

– [Financial Results Presentation](https://www.examplelink1.com/target=”_blank”)
– [Dune Group’s Website](https://www.examplelink2.com/target=”_blank”)