Revenues fall at Shoe Zone after year 'like no other'
By Matt Hall | 19th May 2021
Footwear retailer Shoe Zone has revealed a large drop in sales for the six months to April 3.
Revenues fell by 41 per cent year-on-year to £40.4m and losses before tax reached £2.6m.
With stores in Gloucester, Cheltenham, Tewkesbury and Stroud, Shoe Zone said enforced lockdowns impacted trading for the business with in-store revenues dropping as low as 63 per cent to £22.8m for the period.
But in a more positive light, e-commerce revenues more than tripled and accounted for £17.6m of Shoe Zone turnover.
The business also said it had permanently closed 38 stores in the six-month period, refitted three and relocated one.
Chief executive Anthony Smith said: "The last 12 months have been like no other in the company's history.
"The Covid-19 pandemic has had a huge social and economic impact around the world and has led to huge consequences for all businesses, including our own, as we have had to adapt and change to meet the significant challenges in the last year and I thank our loyal and committed staff during this period.
"However, we have come through this challenging period and are now in position to continue our strategy going forward, with the assumption that no further lockdowns are required."
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