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Renewed digital focus increases Shoe Zone revenues

Revenue at footwear retailer Shoe Zone was up 1.8% year on year to £160.6m for the 52 weeks to 29 September 2018.

Statutory profit before tax increased 18.4% to £11.3m, but product gross margin fell from to 62.9% from 63.2% in the same period in 2017.

The shoe retailer continued to focus on its “Big Box” store format, and finished the period with 19 Big Box stores that contributed £7.1m in sales. The Big Box store count is currently 25 and a further 20 are targeted in 2019.

However, overall the store portfolio was reduced by a net four branches to 492 at the year end.

Digital revenue rose by 19.9% year on year to £9.8m and now represents 6.1% of revenue.

Chief executive Nick Davis said: “This positive performance is testament to the strength of the core business model and the effective focus on growing the Big Box and digital channels.”

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