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Exclusive: Schuh posts pre-tax loss

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.

In its current financial year the retailer has launched a French language version of its website and a specific kidswear fascia, Schuh Kids, in Lakeside, Liverpool and Braehead in Scotland.

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