Seasalt has reported record EBITDA despite challenging international markets and a sharp decline in statutory pre-tax profit.
Turnover edged down by 0.7 per cent to £148.3m in the 52 weeks to 31 January 2026, while EBITDA increased by 1.9 per cent to £12.1m—its highest level to date.
Operating profit before non-recurring items rose by 3.9 per cent to £8m. However, reported operating profit fell from £7.5m to £4.1m following accounting changes, while pre-tax profit declined by 88.1 per cent to £530,645.
Gross margin remained unchanged at 54 per cent as sourcing improvements offset the costs of international expansion, including higher US tariffs.
Strong cash generation and disciplined working capital management helped Seasalt finish the year with £10m in cash, up from £4m a year earlier.
The Falmouth-based fashion retailer employed 1,285 people and operated 78 stores across the UK and Ireland. Its total estate stood at 82 stores after it trialled four standalone locations in the US.
The US shops were closed in May 2026 as Seasalt shifted its focus in the market towards wholesale partners including Nordstrom and Bloomingdale’s.
Third-party channels generated 25 per cent of revenue, while international sales increased by £6m to represent 15 per cent of the total.
Seasalt also continued to invest in customer retention, with its relaunched Seasalt Rewards programme attracting almost 500,000 members by the end of the financial year.
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