Shoe Zone plc, a UK-based footwear retailer, has reported its interim results (H1) FY20, for six months period that ended on April 6, 2020. Revenue for H1 FY20 decreased to £68.9 million compared to revenue of £73.0 million in same period last year. However, digital sales for the period jumped 31.9 per cent to £6.5 million (H1 FY19: £5.0 million).
Shoe Zone plc, a UK-based footwear retailer, has reported its interim results (H1) FY20, for six months period that ended on April 6, 2020. Revenue for H1 FY20 decreased to £68.9 million compared to revenue of £73.0 million in same period last year. However, digital sales for the period jumped 31.9 per cent to £6.5 million (H1 FY19: £5.0 million).#
Gross profit were down to £7.6 million (£9.5 million). Company reported loss from operations of £1.5 million compared to profit from operation of £1.0 million in H1 FY19. Loss before taxation were £2.6 million.
Shoe Zone plc, a UK-based footwear retailer, has reported its interim results (H1) FY20, for six months period that ended on April 6, 2020. Revenue for H1 FY20 decreased to £68.9 million compared to revenue of £73.0 million in same period last year. However, digital sales for the period jumped 31.9 per cent to £6.5 million (H1 FY19: £5.0 million).#
During the period Shoe Zone experienced both disruption in the supply chain and a fall in consumer spending in March resulting in the subsequent closure of retail stores from March 24, 2020. Prior to this, the five months to February showed a year on year increase in revenue of 2.6 per cent, company stated in the results.
Shoe Zone plc, a UK-based footwear retailer, has reported its interim results (H1) FY20, for six months period that ended on April 6, 2020. Revenue for H1 FY20 decreased to £68.9 million compared to revenue of £73.0 million in same period last year. However, digital sales for the period jumped 31.9 per cent to £6.5 million (H1 FY19: £5.0 million).#
During the period company continued to sell via its website and via other online partners which delivered high sales growth since lock down increasing from around 6.5 per cent of total company sales to 17 per cent of previously forecasted sales for the lockdown period. This has been driven by a very aggressive Buy One Get One Free (BOGOF) promotion on all stock to generate cash as quickly as possible.
Shoe Zone plc, a UK-based footwear retailer, has reported its interim results (H1) FY20, for six months period that ended on April 6, 2020. Revenue for H1 FY20 decreased to £68.9 million compared to revenue of £73.0 million in same period last year. However, digital sales for the period jumped 31.9 per cent to £6.5 million (H1 FY19: £5.0 million).#
Company’s 416 stores in England, Northern Ireland and ROI have re-opened by June 15, 2020 in line with the government guidelines. Wales will open on June 28 and Scotland will start to open on June 29.
ALCHEMPro News Desk (JL)
marketing@alchempro.com
