Back-to-school demand lifts Shoe Zone profits

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

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

It notched up a 3.9% 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 business 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 17% to £30.9 million over the year, pushed higher by strong trading through Amazon, according to the firm.

Anthony Smith, CEO of Shoe Zone, 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.

"We continue to accelerate our store refit and relocation programme and to drive our digital strategy on the back of these solid set of results.

"The hard work completed to reduce costs, streamline operations and accelerate investment, positions us well for the year ahead."