// Shoe Zone full-year sales surged 31.2%
// Adjusted pre-tax profits will be no less than £11 million, slightly ahead of last year
Shoe Zone sales surged 31.2% in its full year to 1 October with the key Back to School period helping boost performance
The retailer said it expected adjusted pre-tax profit to not be less than £11 million, ahead of the £9.5 million made the previous year.
However, the £11 million figure includes £1.4 million profit on freehold sales and a £1 million foreign exchance revaluation, which would make profits broadly flat.
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Group sales jumped to £156.2 million and margin remained flat at 61.3% as it “traded positively”, particularly in the second half that includes the Back to School period.
This compares to the £88.5 million made in the 36 weeks in which stores were allowed to open amid Covid lockdowns.
Online sales took a 13.6% fall to £26.4 million, as it returned to “a normalised level” post-pandemic.
The retailer ended the year with 360 stores, 50 fewer than the beginning of the year. However, it is looking to expand its big box and hybrid format stores.
Shoe Zone chief executive Anthony Smith said: “ Shoe Zone continues to show how resilient it is, with a proven track record of delivering robust results during times of economic uncertainty.”
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