Shoe Zone plc, a UK-based footwear retailer, has reported its full year results of fiscal 2020 ended on October 3, 2020. Revenue for the year decreased 24.3 per cent to £122.6 million compared to revenue of £162.0 million in the previous fiscal. However, digital sales grew 82 per cent to £19.3 million (FY19: £10.6 million) especially during lockdown period.
Shoe Zone plc, a UK-based footwear retailer, has reported its full year results of fiscal 2020 ended on October 3, 2020. Revenue for the year decreased 24.3 per cent to £122.6 million compared to revenue of £162.0 million in the previous fiscal. However, digital sales grew 82 per cent to £19.3 million (FY19: £10.6 million) especially during lockdown period.#
“In my second year back as chief executive, it is disappointing I am reporting on a year impacted by Covid-19. Despite this, there are positives such as the continued growth of digital and the commitment and focus of our loyal employees,” Anthony Smith, chief executive at Shoe Zone, said in a press release.
Shoe Zone plc, a UK-based footwear retailer, has reported its full year results of fiscal 2020 ended on October 3, 2020. Revenue for the year decreased 24.3 per cent to £122.6 million compared to revenue of £162.0 million in the previous fiscal. However, digital sales grew 82 per cent to £19.3 million (FY19: £10.6 million) especially during lockdown period.#
Gross profit during FY20 were down to £8.1 million (£25.0 million). Company reported loss from operations of £12.7 million compared to profit from operation of £6.8 million in FY19.
Shoe Zone plc, a UK-based footwear retailer, has reported its full year results of fiscal 2020 ended on October 3, 2020. Revenue for the year decreased 24.3 per cent to £122.6 million compared to revenue of £162.0 million in the previous fiscal. However, digital sales grew 82 per cent to £19.3 million (FY19: £10.6 million) especially during lockdown period.#
Revenue in UK stores slipped to £100.0 million (£146.9 million) during the year, while Republic of Irelands stores sales dropped to £2.6 million (£3.8 million).
Shoe Zone plc, a UK-based footwear retailer, has reported its full year results of fiscal 2020 ended on October 3, 2020. Revenue for the year decreased 24.3 per cent to £122.6 million compared to revenue of £162.0 million in the previous fiscal. However, digital sales grew 82 per cent to £19.3 million (FY19: £10.6 million) especially during lockdown period.#
“All of our stores are closed and we remain unable to forecast accurately due to current uncertainties. Our experienced management team continues to make the right decisions as new issues arise. However, we look forward to our customers returning to our stores on or after April 12, 2021 (England only), combined with our digital platforms continuing to perform well,” Smith said.
ALCHEMPro News Desk (JL)
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