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Shoe Zone boosted by higher sales and profit

Shoe Zone has posted a 6.1% increase in full year sales following strong second half trading. In the 52 weeks to 30 September, revenue climbed to… View Article

FASHION RETAIL NEWS UK

Shoe Zone boosted by higher sales and profit

Shoe Zone has posted a 6.1% increase in full year sales following strong second half trading.

In the 52 weeks to 30 September, revenue climbed to £165.7 million from £156.2 million in the prior year.

While store sales rose to £134.8 million from a previous £129.8 million, online sales increased by 17% to £30.9 million.

The retailer said it benefited from strong trading in its peak summer and back-to-school periods, despite trading out of 37 fewer stores than last year.

Meanwhile, Shoe Zone’s adjusted pre-tax profit for the year is expected to be at least £16 million compared to a previous £11.2 million.

Anthony Smith, chief executive of Shoe Zone, said: “I am pleased to announce that Shoe Zone has had a strong year, continuing the momentum gained from the positive year we had in 2022.

“We continue our strategy to expand our Hybrid and Big Box formats via refits (15) and relocations and new stores (35). Shoe Zone continues to show how resilient it is, with a proven track record of delivering robust results during times of economic uncertainty.”

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