The discount-oriented British shoe retailer suffered a 4.2 percent drop to £159.8 million (€184.9m-$197.1m) in its turnover for the 12 months of its financial year ended last Oct. 1, but this was mainly due to the shutdown of loss-making stores in the first six months. However, the average value of the transactions grew by 5 percent, pross product margins improved by 0.5 percentage points to 62 percent, and the pre-tax profit rose by 1.1 percent to £10.3 million (€11.9m-$12.7m).
Footwear orders directly placed with overseas factories were raised from 62.1 percent to 72.2 percent of all orders, and sales of non-footwear products grew by 26 percent. It relocated ten stores, opened seven and refitted 41 units. The first two large stores of the chain showed encouraging performance and a third one was opened in the new financial year. Six more such stores will be opened this year.
Multichannel revenues rose by 11 percent last year, with e-commerce moving operations to a more efficient, dedicated online distribution zone. Also, Shoe Zone started to sell some of its products through Amazon in France, Germany, Spain and Italy.