Schuh profits hit by 'very disappointing' end-of-year trading
Footwear retailer Schuh has filed its accounts for the year ending February 2025, showing that its profit after tax fell by 90.8% to £1.49 million, compared to £16.08 million in 2024.
Schuh reported that a "very disappointing" Black Friday and Christmas trading period had the greatest impact on its results, as its profitability is largely driven by the final quarter of the year.
"The latter part of 2025 was particularly difficult for trade, as we found ourselves operating in an increasingly promotional environment, which impacted trading margins," Schuh explained in its accounts, adding that these conditions have continued throughout FY26.
While the reduction in profit is substantial, the retailer stated that it has sufficient headroom in its cash and bank facilities to continue operating.
Schuh reported that in the 52 weeks to 1 February 2025, its turnover dropped by 2.6% to £370.95 million, compared to £380.81 million in 2024. However, the previous year covered 53 weeks to 3 February 2024, so the figures are not directly comparable.
The footwear retailer explained that while footfall in stores fell by 3.8%, its e-commerce performance remained "strong", growing 7% on a like-for-like basis. It emphasised that it is building on the strong performance of its e-commerce business with "significant platform enhancements designed to further increase online sales".
The retailer’s EBITDA was £11.21 million, down 60% compared to 2024. Its profit before tax was £4.10 million, down 80.5% from £21.04 million in 2024.
Looking ahead, Schuh outlined that it will continue focusing on strengthening its long-term resilience and competitiveness, with ambitions of "becoming the leading footwear destination for the next generation of shoppers".
This includes evolving its IT operating model following a comprehensive review, while continuing to invest in its store estate, omnichannel capabilities and digital experiences.
In January, Schuh announced a new store opening at Trinity Leeds shopping centre in April 2026, marking its return to the city following the closure of its Thornton Arcade store in July 2025.
In the same month, it also appointed Laura King as its Chief Marketing Officer, signalling a renewed ambition to be an unrivalled fashion footwear destination for Gen Z and Gen Alpha.
