Shoe Zone hails successful year
Footwear retailer Shoe Zone has seen its full year pre-tax profit climb by 18.4% to £11.3 million despite challenging trading conditions.
In the year to 29 September revenue increased by 1.8% to £160.6 million.
Nick Davis, chief executive of Shoe Zone, said: “I am pleased to report that 2018 has been another successful year for Shoe Zone with the group delivering a record profit before tax since IPO driven from a strong performance throughout the business while operating in a challenging consumer environment.
“This positive performance is testament to the strength of the core business model and the effective focus on growing the big box and digital channels.”
At the end of the year Shoe Zone had 19 big box stores operating which contributed £7.1 million of sales. The company now has 25 big box stores and plans to open a further 20 in 2019.
The year also saw Shoe Zone develop and launch new store equipment in-house which led to savings of around £50,000 per store refit. It also rolled out of a new till system.
Looking ahead, Davis added: “We continue to make good progress against our strategic objectives and the board remains positive about the outlook for the group. We are incredibly proud of all of our team’s effort in delivering this progress and would like to thank them for all of their hard work.”
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