Schuh swings to loss after second ‘extremely challenging’ year

schuh

Schuh fell to a loss for the financial year, with the retailer blaming a “second consecutive year of extremely challenging conditions” in the sector.

The footwear specialist posted a loss in pre-tax profits of £6.1m, down from a profit of £13.1m the previous year, due to a “number of factors which we will explore further, including exceptional impairment and onerous lease costs”.

Turnover also fell by over £20m for the year down to £288.4m, from £308.5m in the 2018 financial year.

Schuh also flagged that it had succeeded in handing back two of its three German trading stores, which it announced it would be closing in May.

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