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Schuh expected to deliver record profit in current year

Branded footwear retailer Schuh has reported like-for-like growth of 12% in the first three quarters of its current financial year, contributing to sales of £180m.

Although Schuh’s financial year doesn’t come to an end until the end of January 2013 the retailer, which has been owned by US-based Genesco since June 2011, said it expects to deliver its highest-ever level of profit by the end of this financial year.

“This has been an exciting year of growth for Schuh under Genesco ownership,” said finance director Mark Crutchley. 

“We have opened a record number of stores… [and] delivered £180 million of sales, with the busiest part of the year still to come.”

By the end of the financial year Schuh will have opened 16 new stores including three dedicated kid’s footwear under its new Schuh Kids fascia.

Other store openings were at locations including Bath, Cardiff St. David’s, Colchester, and Warrington.

Schuh has this week launched a tablet-optimised version of its website, available at t.schuh.co.uk, in response to an increasing number of its customers now shopping using mobile devices.

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