// Shoe Zone swings to profit after closing non-profitable stores
// The shoes retailer made a pre-tax profit of £9.5m compared to a loss of £14.6m a year earlier
Shoe Zone has reported an increase in its pre-tax profit for the year to 2 October as it shuttered loss-making stores.
Revenue dropped to £119.1 million from £122.6 million a year earlier.
The shoes retailer made a pre-tax profit of £9.5 million compared to a loss of £14.6 million in the prior year.
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Shoe Zone traded for just 36 weeks of the year due to Covid-19 lockdowns.
Stores recorded revenue of £88.6 million which was down from a previous £103 million.
Meanwhile, online sales climbed by 58% to £30.5 million following an investment in digital infrastructure and operations.
The retailer said part of the success of its digital operation is down to an efficient returns process.
Shoe Zone ended the period with 410 stores trading after a net 50 unprofitable locations were closed.
Anthony Smith, chief executive of Shoe Zone, said: “Shoe Zone had a very successful year due to the incredible hard work of our teams, by reducing costs, reducing non-essential capital expenditure, continuing to accelerate investment in our digital business alongside improving and streamlining operations.”
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