Growing footfall boosts Schuh's annual revenue

Schuh, the footwear retailer that stocks household name brands as well as its own-brand designs, has taken strides to boost its revenues - confirmed by its financial report for the year ending 28 January 2023.

Established in the United Kingdom in 1981 by Sandy Alexander, Schuh is a high-street footwear retailer known for stocking popular brands such as Converse, Adidas Vans, UGG and Dr. Martens.

The company's turnover increased 15.9% to £354.4 million. This was thanks to the post-pandemic recovery of UK high streets and growing footfall, which was up 45% in stores. E-commerce performance continued to be "strong" but turnover dipped by 9.2% as it gave way to the store recovery.

Geographically, UK sales totalled £328.2 million. Meanwhile, European sales reached £26.244 million.

EBITDA was up by 5.9% to £20.645 million. Profit was up by 15.6% to £13.422 million.

In the statement, the company wrote: "While the retail environment continues to pose difficult trading conditions we will continue to review our store portfolio so to ensure we are best placed to adapt to this changing environment. We believe our continued investment in driving efficiency and operational improvements through technology will serve us well."