Shoe Zone losses mount

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Revenue for the six months fell 6% to £68.9m. Online sales were up 32% to £6.5m. 

Shoe Zone has stated that it has permanently closed 20 of its stores, and entered into other cost saving measures, a statement read:

”The Group has also taken immediate action to reduce costs at Head Office and pause all areas of discretionary spend. Negotiations with landlords have also been accelerated and supplier orders reduced, cancelled or deferred as far as possible.”

Shoe Zone closed all stores on 24 March 2020 due to the Covid outbreak, and reopened 416 on 15 June. It now says that it is operating from a portfolio of “around 470 stores”.

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