Shoe Zone annual profit declines after tougher second half
Shoe Zone has a posted a drop in full year revenue and profit after trading became tougher in its second half,
In the 52 weeks to 28 September, revenue came in at £161.3 million compared to £165.7 million in the prior year while pre-tax profit was £10.1 million versus a previous £16.2 million.
Shoe Zone said it was impacted by disappointing store sales as weaker consumer confidence and poor weather took its toll in its second half. While store sales fell to £126.1 million in the period from £134.8 million a year earlier, online sales rose to £35.2 million from a prior £30.9 million.
The retailer said profits were also impacted by higher container prices, energy costs and depreciation charges.
Charles Smith, chairman of Shoe Zone said: “Shoe Zone had a good year, essentially split into two halves.
“The first six months saw strong and consistent trading, followed by disappointing store sales, due to the weakening of consumer confidence and unseasonal weather conditions, particularly during peak summer.
“That said, the key back to school trading in the second half was positive, and ahead of the previous year, as were Digital sales, which had strong growth for the full period.”
Shoe Zone ended the year trading from 297 stores after closing 53 and opening 27 in the period. The retailer is continuing its store refit and relocation programme, which it expects to complete by the end of 2026,
