Branded footwear retailer Schuh is on track to deliver a substantial uplift in profits and sales for the 12 months to April, bucking the downward trend in the sector.

Schuh is expected to raise its EBITDA by 16 per cent to£11.5 million from£9.9 million the year before, driven by tighter stock control and improved margins. Total sales are expected to reach£135 million compared with£125 million last year.

Finance director Mark Crutchley said: “In summer 2006 we were too aggressive in our discounting and sold too much too cheaply, which affected our profit for 2006/2007.”

Schuh has 50 stores in the UK and Republic of Ireland and 22 concessions in branches of fashion retailer Republic. It also has a transactional web site, tie-ups with e-tailers Shoe-shop.com and Vivaladiva.com, as well as Schuh sites on Amazon and eBay.

Crutchley said: “Better management of our multichannel platform has improved our stock situation significantly.”

Schuh is working on a refinancing deal, which is due to be completed by April.

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