// Dune profits dented by House of Fraser administration
// Operating profit drops 21% to £3.5m, and pre-tax profit falls 9% to £3.04m
// Sales also declines 4% but like-for-likes grew when House of Fraser concessions are taken out of the equation
Footwear retailer Dune has booked a decline in full-year profits and sales, as last year’s collapse of House of Fraser had an adverse impact on its concessions.
According to accounts filed at Companies House last week, Dune saw operating profit drop 21 per cent to £3.5 million in the year to January 26.
Pre-tax profit also declined, dropped nine per cent to £3.04 million.
Dune attributed the decline to a £1.2 million debt write-off arising from House of Fraser’s administration in 2018.
The department store chain had been a key concession partner for Dune.
Meanwhile, the footwear retailer’s full-year sales declined four per cent year-on-year to £143 million.
However, if the House of Fraser concessions are taken out of the equation – Dune said its like-for-like sales enjoyed positive growth through all distribution channels.
In addition, its own-website sales shot up by 13 per cent year-on-year.
Gross profit came in at £86.1 million, which equated to a 3.6 per cent year-on-year decline.
Dune said it opened six outlet stores and five concessions during the year, while closing down seven stores.