Leicester footwear retailer Shoezone has seen a dip in revenue and profit in the year to 28 September 2024.
According to an unaudited full year trading update, group revenue reduced by 2.7% to £161.3m, due to unseasonal weather in the second half of the year, particularly peak summer, as well as trading out of 26 fewer stores.
However, the company noted that the key three weeks of Back to School trade in August and September was positive and ahead of the same period last year.
Profit before tax, meanwhile, is expected to be not less than £9.6m, sliding from £16.2m last year, as a result of the weather-impacted second half sales performance in conjunction with increases in the cost of energy, depreciation, National Living Wage and containers prices in the second half.
Charles Smith, Chairman, said: “A year of two halves, with the first half trading in line with expectations and ahead of the previous year, however, the second half trading was below expectations due to unseasonal weather conditions, particularly at peak summer, however, our key Back to School period traded above expectations at the end of the year. Our Digital business continued to grow, driven by the introduction of free next day delivery for all shoezone.com orders.”
