Footwear retailer Sole Trader has reported a 24.6% increase in operating profit for the year to June 29, 2013, boosted by online sales and sales uplift from a store refit programme.
Turnover at the company increased by 7.2% to £37m for the period, compared to sales of £34.5m the previous year. Profits rose to £1.08m, up from £868, 214.
In 2013 the business rolled out a store refurbishment programme, refitting the Bluewater and Birmingham Bullring stores as well as opening new shops in Leicester, Stoke, Nottingham and Bromley.
Marcel Bordon, chief executive of Sole Trader, said despite costs dampening consumer spend, there were “strategic opportunities for growth.” As part of that the company plans to refit 14 more stores across the UK this year.
Since the start of 2014, Sole Trader, which stocks brands including New Balance, Nike, Hugo Boss and Paul Smith, has already refitted the Trafford Centre store and opened a new shop in the Metro Centre in Gateshead.
Sole Trader currently has 43 stores in the UK and nine Sole Trader outlet branches.