Shoe Zone recorded a strong increase in its full-year profits, bolstered by sales in its big-box stores.
The footwear retailer posted an 18.4% boost in statutory pre-tax profit to £11.3m in the 52 weeks to September 29, bolstered by a 1.8% uplift in revenue to £160.6m.
The retailer opened 19 big-box stores during the financial period, which collectively contributed £7.1m to its overall sales. Today Shoe Zone has 25 big-box outlets in its store estate and aims to open a further 20 in 2019.
The retailer’s online revenue increased 19.9% to £9.8m during the period and contributed £2.6m to overall profits.
Shoe Zone’s gross margin edged down to 62.9% in the year from 63.2% the previous year.
Chief executive Nick Davis said: “I am pleased to report that 2018 has been another successful year for Shoe Zone with the group delivering a record profit before tax since IPO, driven from a strong performance throughout the business while operating in a challenging consumer environment.
“This positive performance is testament to the strength of the core business model and the effective focus on growing the big box and digital channels.
“We continue to make good progress against our strategic objectives and the board remains positive about the outlook for the group.”