PRIVACY
Enterprise

Back-to-school demand helps Shoe Zone profits march ahead

The Leicester-based retailer said pre-tax profits jumped to £16.2 million for the year

(Image: Stickyeyes)

Strong "back-to-school" demand for footwear helped retailer Shoe Zone hike annual profits by nearly a fifth.

The Leicester-based high street chain, which has 323 shops across the UK, said pre-tax profits jumped by 19.1 per cent to £16.2 million over the 12 months to September 30.

It notched up a 3.9 per cent rise in sales across its stores, having overhauled its estate under a programme that saw it shut 72 sites, open 35 new shops and revamp 15 outlets to a new-look format.

The group said it would continue to refit and relocate stores over the year ahead, with plans for more "hybrid and big box" large stores, which are located in retail parks.

It so far has 42 big box stores and 93 hybrids and ultimately plans to increase these to around 100 and 200 respectively.

Online sales jumped by 17 per cent to £30.9 million over the year, pushed higher by strong trading through Amazon, according to the firm.

Chief executive Anthony Smith said: "Shoe Zone had a very positive year, with strong and consistent results throughout the key trading periods, particularly in the second half, with strong peak summer and back to school trading.