Stylo is pinning its recovery on the roll-out of its new Barratts concept after posting losses of £9.3 million for the first half to August 2.
The footwear group, which also owns self-service footwear chain Priceless, said total sales had fallen 5.7% to £105.7m over the period, equating to a like-for-like sales decrease of 3.7%.
Stylo unveiled its finalised revamped Barratts concept at Westfield London in White City, west London, last week. A first-stage concept debuted in Liverpool One and Sheffield’s Meadowhall shopping centres earlier this year.
The new openings have delivered sales uplifts of about 25% for the business.
The new store concept targets families, from young fashion customers through to older shoppers who want comfort elements to their footwear.
Barratts has also introduced a raft of own-label collections such as Belle & Mimi and Black Gardenia as well as branded product to support its repositioning.
Stylo chairman and chief executive Michael Ziff said: “We are selling Belle & Mimi shoes for £40 – a price point that Barratts has not hit before. We are also adding elements into the product such as putting pink soles on our Black Gardenia styles. We are beginning to trade up on price.”
However, Ziff warned the City that the current “extreme economic conditions” meant that it was hard to assess the impact on the business’s plans at this moment in time.