Schuh, the British footwear retailer owned by Genesco, has decided to distribute a bonus of £25 million (€35.2m-$38.7m) among its 3,500-odd employees to reward its staff. When it took over the chain in 2011 for £125 million (€175.9m-$193.6m), the American parent company had agreed that it would establish a bonus scheme if certain targets had been met over a four-year period. An earn-out provision for the former owners was also agreed at the time, and it has been exercised since then. In the financial year ended last Feb. 1, Schuh reached a profit of £11.5 million (€16.2m-$17.8m). Sales rose by 7.6 percent to £247.5 million (€348.2m-$383.4m), due in part to the opening of 12 new stores.

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