Profits take a tumble at Shoe Zone

Shoe Zone is once again feeling the pinch, blaming weak consumer confidence and unpredictable weather for its latest financial struggles—challenges that have persisted throughout the past year.

The Leicester-based footwear retailer had issued two profit warnings during the year and ended with pre-tax profits having slumped from £16.2m to £10.1m. It attributed the fall to higher costs for shipping, energy, wages and store refits.

Revenue fell by 2.7% to £161.3m, in the year to September, with store sales dropping 6.5% due to having 26 fewer locations.

Throughout the year, the retailer closed 53 stores, opened 27 new ones and revamped 28 locations to align with its updated store format.

Online sales did however provide a silver lining, rising by 13.9% to £35.2m, driven by free next-day delivery and strong Amazon sales.

After issuing a profit warning in December last year—its second of the year—Shoe Zone acknowledged that rising National Insurance and National Living Wage costs would weigh heavily on its latest financial results.

Its share price has fallen 60% in the last year and were at a three-year low at the start of 2025.

The retailer’s store portfolio includes both high street and larger format stores, which offer a range of brands such as Skechers, Hush Puppies, Rieker and Lilly & Skinner.

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