Shoe Zone has reported an uptick in revenues off the back of its ongoing focus on opening big-box format stores.
The footwear retailer issued a trading update for the 53-week period to October 5, 2019, and reported revenues of £161.9m, up slightly from £160.6m the previous year in the face of what it described as “challenging” trading conditions in the second half.
Shoe Zone issued a profit warning at the end of August and revised its full-year profit expectations. This led to former chief executive Nick Davis resigning from his role, to “pursue other business interests”.
The retailer ended the year with 500 stores, having opened 24 and closed 16 during the period – 21 of which were its big-box formats. This brings the total number of big-box stores across its portfolio to 40, with plans to open a further five by the end of December.=
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