Shoe retailer Stylo revealed margins continue to be affected by the downturn and the outlook for the company remains challenging.

In a statement today, Stylo said: “The company continues to manage stock levels and costs tightly.” It added that the board is continuing to explore strategic options for the business.

In a trading update at the beginning of December Stylo said sales had been below expectations in the four weeks since October 31.

In October, Stylo posted first-half losses after tax of£9.3m. It revealed it would have to cut jobs at the business.

The retailer's brands include Barratts and Priceless.

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