Shoe Zone has revealed its chief executive Anthony Smith is stepping down from the company’s board.
The footwear retailer said Smith’s departure will allow him to “increase his focus on the day to day running of the business”.
Smith, who joined the retailer in 1993 and was promoted to CEO in 1997, will remain as a director of Shoe Zone’s operating subsidiary, Shoe Zone Retail Limited.
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The move follows the retailer’s warning back in March that it was trading below expectations, which sent its share price falling by a fifth.
Smith said performance in the first half was “marginally below expectations” due to higher than expected costs.
He cited rising shipping costs from the ongoing Red Sea attacks, the National Living Wage increase and a “slower than expected end to our Autumn/Winter season”.
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