Shoe Zone posts flat sales and profits in first half
Shoe Zone has reported a “positive” first-half performance, when it held sales and profits firm, as it benefited from falling rents on store lease renewals.
The retailer reported pre-tax profit of £1m in the six months to March 30 – the same as last year – when sales edged down 1% to £73m.
Shoe Zone said that rent on renewals had fallen on average by 18.5%, which would save it £334,000 over the year.
Big-box stores and digital, two of the footwear specialist’s key investment areas, achieved “profitable revenue growth” over the period.
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