Schuh to open first international store and seeks to grow kids fascia

The retailer has signed for a store in Oberhausen, which will open early 2015, and is looking at more opportunities in northern Europe, according to finance director Mark Crutchley.

Schuh will alsocontinue its UK expansion with 10 to 15 stores poised to open in its current year including the expansion of its Schuh Kids fascia.

It now has six Schuh Kids stores follow its debut two years ago and Crutchley said there was the potential to grow it into a “reasonably sized chain”.

The expansion comes as Schuh unveiled a pre-tax profit dipped from £14.8m to £12.1m as it doubled investment into the business.

It opened 17 new stores over the year to February 1 and invested £7m into its new 245,000 sq ft distribution centre opened in September in Bathgate, West Lothian.

This increases capacity five-fold and has improved efficiency, according to Crutchley.

Schuh, which was bought by US footwear giant Genesco for £125m in 2011, now has 111 stores in the UK but Crutchley believes it has more growth potential, especially in greater London and the Southeast.

Crutchley insisted that Schuh’s growth plan was on track but profits fell after a stellar year in 2012/13.

He said the waning popularity of some of the hotter footwear brands led to a 1.3% sales fall to £230m although Schuh’s year is pitched against a longer, 53 week period last year as a result in a change in year-end date.