Shoe Zone Revenue Jumps 31.2%

  • Revenue climbed 31.2% to £156.2 million.
  • Profit before tax is expected to be not less than £11 million.
  • Shoe Zone shares are up 0.71%.

Shoe Zone reported its full-year trading update on Tuesday, which saw the group post higher revenue and improved profit guidance.

The footwear retailer announced revenue climbed 31.2% to £156.2 million from £119.1 million in FY21. Shoe Zone noted that its retail locations conducted business for the entire 52 weeks as opposed to just 36 weeks in 2021 due to Covid restrictions.

Store revenue grew to £129.8 million as customers returned to physical stores, while digital revenue fell to £26.4 million.

Furthermore, adjusted profit before tax is expected to be not less than £11 million, compared to £9.5 million in the prior year. The company has increased its profit guidance several times this year.

“I am pleased to announce that Shoe Zone had a positive year that included a full 52 weeks trade post pandemic,” said Chief Executive Anthony Smith.

Smith continued, “Shoe Zone continues to show how resilient it is, with a proven track record of delivering robust results during times of economic uncertainty.”

Shoe Zone ended the year trading out of 360 retail stores, down from 410 stores in FY21. The company sold 14 freehold properties which generated a profit of £1.4 million.

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