Shoe Zone celebrates positive year

Shoe Zone has revealed that its adjusted profit before tax is expected to be no less than £11m for the year ended 1 October 2022, up from £9.5m in the previous year.

Group revenue also increased by 31.2% to £156.2m, up from £119.1m a year earlier.

This was boosted by a sharp increase in store sales, up to £129.8m from £88.5m. Digital sales were slightly down to £26.4m from £30.6m, as physical stores were able to trade for the full 52 weeks compared to 36 weeks in FY 2021 due to COVID closures.

Chief executive, Anthony Smith, said: “I am pleased to announce that Shoe Zone had a positive year that included a full 52 weeks trade post pandemic. We continue our strategy to expand our Hybrid and Big Box formats via refits and relocations. Shoe Zone continues to show how resilient it is, with a proven track record of delivering robust results during times of economic uncertainty.

“We look forward to updating shareholders in more detail at the time of our final results on 10 January 2023. I would like to thank all of our teams for their continued commitment and hard work that have produced these great results.”