Branded footwear retailer Schuh has posted a £140,000 pre-tax loss for the 44 weeks to end-January 2012, as it altered its financial reporting dates to be in line with US owner Genesco.
Schuh, which was acquired by US-based retail giant Genesco in June 2011, reported a turnover of £168.7m over the 10 month period from April 1 2011. This was up 3% compared to the full year period previously and 18% up on the equivalent 44 week period.
However cost of sales rose from £135.7m in the year to end-March 2011 to £149.3m in the 10 months to end-January.
The footwear business made a pre-tax loss of £140,000, compared with a £14.8m pre-tax profit in the prior 52 week period.
According to its accounts, filed at Companies House last week, Schuh invested £6m in expanding its store network and central operations. Over the reporting period, stores were opened in Westfield Stratford, Portsmouth, Guildford, Bournemouth, Wigan and Watford.