Shoe Zone swings to half-year loss as it closes 20 stores
Shoe Zone has reported a half-year loss and a fall in sales as it unveils plans to reduce the size of its store estate to cut costs.
The footwear specialist posted a statutory pre-tax loss of £2.5m in the six months to April 4 as sales declined 5.6% to £68.9m.
The retailer said that coronavirus will “continue to have an unprecedented impact on the UK economy and the retail industry” and that the shockwaves will “be felt for several years” by the business.
As a result of this, Shoe Zone said it is reviewing the viability of all its stores. It took the decision to close 20 for good over the course of lockdown, giving it a total of 470 stores overall.
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