Connecting to LinkedIn...

Shoe Zone sees jump in H1 profits


Value footwear retailer Shoe Zone has seen revenue fall but profits rise in a “good first half” of the year.

Profit before tax for the first half of the year rose to £2.7m from £200,000. But revenue fell to £82.9m in H1 2014 from the H1 2013 figure of £98.8m, Shoe Zone said.

Anthony Smith, Shoe Zone chief executive said: “Profits (were) significantly ahead of the same period last year combined with a high level of cash conversion.” The company said the revenue fall reflected the planned closure of a number of temporary stores.

The company said its aim is to offer low price and high quality footwear for the whole family.

Shoe Zone, which was valued at £80m at 160p a share when it floated in May, has refitted 19 shops and relocated and upgraded two stores to a larger format in the last eight months. It said its online business – which launched on Amazon in November – was performing well.

The company operates from 554 stores and employs around 4,100 members of staff across the UK and the Republic of Ireland.

Published on Tuesday 24 June by Editorial Assistant

Articles similar to

Latest articles

comments powered by Disqus
Top Feature