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Robert Dyas has revealed that its operating losses widened, from £2.3m to £4.8m, for the year ended 29 March 2025, despite interim chief executive Theo Paphitis’ efforts to refocus on channel performance.
It comes as like-for-like store sales fell 5%, which management attributed to weakened high street footfall and unseasonal weather that impacted seasonal trading.
During the period, turnover increased 1% to £165.9m thanks to a “significant” shift toward e-commerce. Digital channels now account for nearly 50% of the retail business following 11.8% growth in e-commerce sales.
The company also noted that its dropship business, which offers an expanded online product range, grew 22.4% during the period.
The group is responding to high street challenges by developing joint stores with sister company Ryman, which is also operated by Theo Paphitis Retail Group. Some 12 joint sites are now operational, including a triple-brand location on the Strand that incorporates a Post Office.
According to the group’s filing at Companies House, a spike in demand for air fryers and energy-saving products seen in 2024 has returned to normal levels. Growth was instead found in workshop, decorating, and plumbing categories.
In addition, the MyDyas loyalty programme has grown to 1.9 million members. Data from the scheme is being used to tailor local marketing campaigns and adjust product ranges across the 93-store estate.
Future strategy focuses on reducing the cost base to mitigate pressures from the national living wage, national insurance, and business rates. The company confirmed it is seeking new sites to expand its reach.
Paphitis said: “Robert Dyas has had a more testing time and at the end of last summer, I increased my direct involvement in the brand, taking up the role of interim CEO to steady the ship and refocus the strategic direction with the brand, as I have with other brands in my group over the years.
“Whilst we have seen positive trading with our e-commerce business, we needed a refresh and to deliver more consistently to our loyal customers through our well positioned store portfolio. We have enhanced our click-and-collect proposition and increased our joint stores with Ryman. We will focus on using the digital strategy that has worked so successfully with the other brands, to drive customers back to stores.”
