UK footwear retailer Shoe Zone's H1 FY21 revenue falls to £40 mn

Shoe Zone plc, a UK-based footwear retailer, has reported decline in its sales to £40.4 million during the first half (H1) of fiscal 2021 ended on April 3, 2021, compared to revenue of £68.9 million in the corresponding period of previous fiscal. However, the company’s digital sales for the six-month period grew to £17.6 million (H1 FY20: £5.4 million).

 

Shoe Zone plc, a UK-based footwear retailer, has reported decline in its sales to £40.4 million during the first half (H1) of fiscal 2021 ended on April 3, 2021, compared to revenue of £68.9 million in the corresponding period of previous fiscal. However, the company's digital sales for the six-month period grew to £17.6 million (H1 FY20: £5.4 million).#

“The last 12 months have been like no other in the company’s history. The Covid-19 pandemic has had a huge social and economic impact around the world and has led to huge consequences for all businesses, including our own, as we have had to adapt and change to meet the significant challenges in the last year and I thank our loyal and committed staff during this period,” Anthony Smith, chief executive at Shoe Zone, said in a press release.

 

Shoe Zone plc, a UK-based footwear retailer, has reported decline in its sales to £40.4 million during the first half (H1) of fiscal 2021 ended on April 3, 2021, compared to revenue of £68.9 million in the corresponding period of previous fiscal. However, the company's digital sales for the six-month period grew to £17.6 million (H1 FY20: £5.4 million).#

The company’s gross profit during H1 FY21 was £10.6 million (£7.7 million). Whereas company’s loss from operations widened to £1.7 million (£1.5 million). Shoe Zone’s loss for the period was £2.1 million (£2.0 million).

 

Shoe Zone plc, a UK-based footwear retailer, has reported decline in its sales to £40.4 million during the first half (H1) of fiscal 2021 ended on April 3, 2021, compared to revenue of £68.9 million in the corresponding period of previous fiscal. However, the company's digital sales for the six-month period grew to £17.6 million (H1 FY20: £5.4 million).#

Revenue in the UK stores plunged to £21.9 million (£61.8 million) during the first half of FY21, while Republic of Irelands stores sales dropped to £0.6 million (£1.6 million). The company’s stores revenue were £22.8 million (£63.3 million).

 

Shoe Zone plc, a UK-based footwear retailer, has reported decline in its sales to £40.4 million during the first half (H1) of fiscal 2021 ended on April 3, 2021, compared to revenue of £68.9 million in the corresponding period of previous fiscal. However, the company's digital sales for the six-month period grew to £17.6 million (H1 FY20: £5.4 million).#

“The company currently operates from a portfolio of around 422 stores (38 closed in the period with 3 stores refitted and 1 relocation to new formats). We operate a comprehensive digital proposition, enabling it to provide a multi-channel shopping experience to the customers,” Smith added.