Shoe Zone suffers profit fall after tough year

Shoe Zone has reported a fall in profits

Shoe Zone has posted a fall in annual profits and hit out at the burden of business rates.

Shoe Zone’s underlying pre-tax earnings slid to £9.6m in the year to October 5 2019, versus £11.3m the previous year. Sales inched up 0.9% to £162m.

Shoe Zone chief executive Anthony Smith, who returned to running the business last year, said he was confident in the retailer’s potential but called for government action to address the burden of business rates, which have soared over the last decade.

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