Shoe Zone executives increase stake in business

Value footwear retailer Shoe Zone has today announced that CEO Anthony Smith and Chairman Charles Smith have purchased £1.28 million worth of shares in company.

Sheepy Magna Investments Limited, an investment vehicle in which Charles Smith has a 50% interest has acquired 720,156 Ordinary Shares, and Slawston Investments Limited, an investment vehicle in which Anthony Smith has a 50% interest has acquired 900,720 Ordinary Shares.

Charles Smith and Anthony Smith's aggregated shareholding has therefore increased to 26,860,251 Ordinary Shares, representing 53.72% of the company.

Shoe Zone operates from a portfolio of around 430 stores and has approximately 3,000 employees across the UK. The store portfolio consists of over 380 high street stores and over 50 larger Retail Park units, featuring brands such as Skechers, Hush Puppies and Kickers.

In March, Shoe Zone announced its full results for financial year 2020, and the appointment of its new Finance Director.

Shoe Zone recorded a loss before tax of £14.6 million and total sales of £122.6 million, a 24.3% drop compared to 2019, laying bare the impact of COVID-19 imposed lockdowns and store closures.