Footwear retailer Schuh’s pre-tax profits soared to £25.6m in its year to February 2 as its store estate approaches 100 shops.
Like-for-likes jumped 11% over the year and turnover hit £233m, up 18% when adjusted for the 52 week comparable period.
The performance represents an improvement on the retailer’s last reported period. Schuh, which was acquired by US footwear giant Genesco in June 2011, posted a £140,000 pre-tax loss for the 44 weeks to the end of January, 2012.
The 92-store retailer opened 16 stores over the year, including its first foray into children’s footwear with three kids-only stores. It also launched an extended children’s range in all stores and has a dedicated section on its website to the category.
Its store estate is set to reach 100 shops in the next few months as it has opened three stores since the year end with a further eight deals signed and set to open over the next few months.
Schuh finance director Mark Crutchley said: “Performance in the second year of Genesco ownership has flourished and we have significantly expanded our store estate.
“We have focussed on making our customers’ life easier with the introduction of a tablet-optimised website and services such as live video chat and check-and-reserve, and our results show that these have resonated well with the customers.”