Shoe Zone boosted by positive half year
Shoe Zone has been boosted by a “robust and positive” performance in the first half of its financial year after revenue increased by 7.9% to £75.4 million.
In the six months to 1 April, store revenue grew by 6.8% while online sales rose by 12.7%.
Meanwhile adjusted pre-tax profit came in at £2.5 million compared to a previous £3.1 million, which was slightly above management’s expectations. The reduction on the comparable period in the prior year was mainly due to National Living Wage increases.
Shoe Zone ended the period trading out of 336 stores, which was a decrease of 52 compared to 12 months ago. The retailer said it is aiming to ultimately double its “Big Box” locations to approximately 100 and increase its hybrid stores to 200 in the medium term.
Anthony Smith, Shoe Zone chief executive, said: “Shoe Zone delivered a robust and positive performance in the period against a backdrop of consumer uncertainty and macroeconomic volatility. The performance further demonstrates the resilience of our business and the success of our ongoing strategy.”
