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Shoe Zone appoints Peter Foot as finance director

Shoe Zone has announced the appointment of Peter Foot as finance director, effective 6 July 2020.

Foot will replace Jonathan Fearn whose resignation has been accepted with effect from 31 July 2020. It is intended that Foot will be appointed to the board of Shoe Zone subject to the completion of the customary due diligence checks required by the AIM Rules.

Anthony Smith, CEO of Shoe Zone, said: “I am very pleased that Peter has agreed to join the board of Shoe Zone as our new finance director. His financial and leadership experience from over 25 years in the footwear sector will ensure he is well placed to run the finance team at Shoe Zone. 

“On behalf of the board, I would like to take this opportunity to thank Jonathan for his contribution over the last four years and wish him all the best in his new role.”

The appointment follows Shoe Zone announcing 20 of its stores will not open post-lockdown, resulting in a number of its staff being made redundant. 

The news comes after the company reported a loss of £2.5m for the 26 weeks to 4 April 2020, compared with a profit of £1m in the same period last year.

Shoe Zone reported a decrease in revenues to £68.9m compared with £73m in 2019.

In the trading update, Shoe Zone said it had incurred an additional £300,000 cost in redundancy payments after the balance sheet date.

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