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Schuh seeks to reduce property costs

Footwear retailer Schuh has appointed retail property consultant CAPA to reduce occupancy costs across its 130-strong store estate. 

The retailer said: “As a business we remain focused on delivering initiatives to further enhance customer experience, including our new transformational TwentyTwenty store design, CRM personalisation, driving brand awareness and continuing to offer our customers their favourite footwear brands and styles.”

Schuh appointed advisory firm KPMG in August to asses its options following a period of tough trading. It is understood that a company voluntary arrangement was not part of the considerations. 

The retailer closed all three of its stores in Germany on 22 June, to focus efforts on its UK, Irish and Channel Island business.

In the year to 3 February Schuh’s annual pre-tax profits fell 9.6% to £15m, as a result of the “overtly promotional retail market”. Revenue rose 9.8% to £308.5m.

 

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