Leicester-based Shoe Zone has hailed record profits in a new, unaudited full year trading update for the 52 weeks to 30 September 2023 (FY 2023).
Adjusted profit before tax is expected to be not less than £16m, up from £11.2m last year, while group revenue increased by 6.1% to £165.7m, from £156.2m.
The 6.1% increase is due to strong second half trading, particularly in peak summer and the footwear retailer’s key back to school period, with these results coming from 37 fewer stores than last year.
Chief Executive, Anthony Smith, said: “I am pleased to announce that Shoe Zone has had a strong year, continuing the momentum gained from the positive year we had in 2022.
“We continue our strategy to expand our Hybrid and Big Box formats via refits (15) and relocations and new stores (35). Shoe Zone continues to show how resilient it is, with a proven track record of delivering robust results during times of economic uncertainty.
“I would like to thank all of our teams for their continued commitment and hard work that have produced these great results.”
