THE RETAIL BULLETIN - The home of retail news
HOME
VIRTUAL EVENTS
Department Stores
Electricals
Entertainment
Fashion
Food & Drink
General Merchandise
Health & Beauty
Home & DIY
Interviews
Newsletter
Property
Retail News
Shopping Centres & Retail Parks
Sports & Leisure
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT
CONTACT
SUBSCRIBE FOR FREE
Shoe Zone profit on track in ‘difficult’ year

Shoe Zone has said that it expects its full year pre-tax profit before exceptional items to be in line with its revised market expectations. In a… View Article

FASHION

Shoe Zone profit on track in ‘difficult’ year

Shoe Zone has said that it expects its full year pre-tax profit before exceptional items to be in line with its revised market expectations.

In a full year pre-close update, the value footwear retailer also said that revenues in the 53 weeks to 5 October were approximately £161.9 million compared to £160.6 million in the previous year.

Back in  August, Shoe Zone said it had experienced challenging trading conditions in the second half of its financial year. However, the company has benefited from strong performances from both its online business and big box format stores.

Shoe Zone ended the year with 500 stores after opening 24 new shops and closing 16 stores in the  period.  Of the 24 new shops, 21 were in the big box format which means it now has 40 big box stores operating across the UK. It expects to increase this number to 45  by the end of the year.

Anthony Smith, Shoe Zone chief executive, said: “Shoe Zone has ended this difficult year in line with our revised expectations.  It is early days in the new financial year, but we have been encouraged by the performance so far.  There are a further twenty big box openings planned for the coming year which, alongside our strong digital momentum, will continue to drive growth in the future.”

 

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News