Shoe Zone announces departure of Finance Director
Value footwear retailer Shoe Zone has announced that its Finance Director, Peter Foot, has left the business with immediate effect.
Foot only took up his new role in July 2020, replacing Jonathan Fearn, who had resigned after four years at the retailer.
The Board also confirmed it has started the search for a replacement and a further announcement will be made in due course once an appointment has been made.
In a very brief stock exchange filing, the company gave no reason for his exit but confirm that the board-level change won’t have any impact on its year-end results that are to be announced on 8 March 2021.
Foot’s arrival had been hailed at the time as a positive move for the company, with him bringing over 25 years of footwear industry experience, having previously been finance and operations director at T&A Footwear Limited.
In October, Shoe Zone posted a 24% fall in retail revenues to £122.6m for the 52 weeks to 5 October, fuelled by a deficit in store sales as a result of the Coronavirus crisis.
Shoe Zone ended the year with 460 stores, having opened 10 Big Box stores and closed 40 stores during the period.