// Shoe Zone welcomes Peter Foot as new finance director
// Foot will join office on July 6 and replace Jonathan Fearn
Shoe Zone has appointed Peter Foot as its new finance director just a week after announcing 20 stores closures, head office job cuts and a £2.5 million half-year loss.
Foot will join office on July 6 and will replace Jonathan Fearn, who will be leaving the business on July 31.
He will also be appointed to the retailer’s board subject to the completion of due diligence checks required by AIM Rules.
- Shoe Zone shuts down 20 stores, cuts HQ jobs amid £2.5m half-year loss
- Shoe Zone cancels final dividend & warns of Covid-19 impact
“I am very pleased that Peter has agreed to join the board of Shoe Zone as our new finance director,” Shoe Zone chief executive Anthony Smith said.
“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.”
Shoe Zone revealed in June that it had made a loss before tax of £2.5 million in the six months to April 4, while also announcing 20 store closures and head office job cuts.
Revenue fell six per cent to £68.9 million for the period, although online sales rose 32 per cent to £6.5 million.
On March 24, all 470 Shoe Zone stores closed due the coronavirus lockdown, and in mid-June, 415 of them reopened in line with government guidelines.
The footwear retailer had furloughed the majority of its employees and utilised government tax deferment schemes.