Shoe Zone’s full-year profits and sales have surged thanks to the key Back to School period helping boost performance.
The footwear retailer said its adjusted profit before tax is expected to not fall below £16m for the 52 weeks to 30 September, a 43% increase on last year’s £11.2m.
Sales roles 6.1% to £165.7m, which the group attributed to a strong second half trading during the peak summer and back-to-school period.
Online revenue surged 17% to £30.9m, thanks to the retailer’s ongoing investment into its digital platform. It now represents 18.7% of group sales, up from 16.9%.
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The retailer ended the year with 323 stores, 37 fewer than it started with, as it continues to close loss-making shops and expand its Hybrid and Box Box formats across the rest of its portfolio.
Chief executive Anthony Smith said: “I am pleased to announce that Shoe Zone has had a strong year, continuing the momentum gained from the positive year we had in 2022.
“We continue our strategy to expand our Hybrid and Big Box formats via refits and relocations and new stores.
“Shoe Zone continues to show how resilient it is, with a proven track record of delivering robust results during times of economic uncertainty.”
The retailer will share its full year results in January 2024.
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