Shoe Zone store sales boost annual revenue
Shoe Zone has reported a "very positive year" for the 52 weeks ending 1 October 2022, reflecting a more normalised trading period post-pandemic.
The company reported revenue of £156.2 million, compared to £119.1 million in 2021. This increase was driven by "strong" trading over the back to school period.
Store revenue totalled £129.8 million, compared to £88.6 million in 2021. In the UK, store sales were £128.6 million.
However, digital revenue fell 13.5% to £26.4 million, reflecting a return to more normalised levels of revenue post-pandemic. The company said it continues to invest in the brand's digital infrastructure, including a redesign of the brand's check-out page and the introduction of Klarna and PayPal.
Profit before tax was £13.6 million, compared to £9.5 million in 2021. Net cash totalled £24.4 million, compared to £14.6 million in 2021.
Shoe Zone ended the year trading out of 360 stores, having closed 63 stores, opened 13 new stores and converted 11 existing stores into the brand's new formats.
In a statement, Shoe Zone said: "As we refit existing stores to our new formats, the branded mix will continue to form a higher proportion of our overall sales."
