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Clothing & Shoes

Shoe Zone revenues up in FY results despite ‘challenging’ second half

Footwear retailer Shoe Zone has reported revenues of £161.9m for the year to 5 October 2019, up from £160.6m in 2018, in its preliminary reports for the trading period.

The retailer said trading conditions in the second half of the financial year were “challenging”, but its new ‘Big Box’ store concept and ‘Digital’ growth elements “continued to progress strongly” during the year.

brand new modern look to the store and selling branded stock alongside own brand styles

It said it also expects to report pre-exceptional profit before tax for the period in line with “revised market expectations”.

Shoe Zone ended the year with 500 stores, having opened 24 and closed 16 during the period. Within the 24 store openings, 21 were the continued roll out of the Big Box format, two were high street stores and one was the new hybrid format.

CEO Anthony Smith 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 20 Big Box openings planned for the coming year which, alongside our strong Digital momentum, will continue to drive growth in the future.”

The retailer said it will announce its final results for the period ended 5 October 2019 on 8 January 2020.

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