243
Fashion Jobs
L'OREAL GROUP
Head of Advocacy & Influence - l’Oréal Dermatological Beauty - Copenhagen
Permanent · COPENHAGEN
ESTÉE LAUDER COMPANIES
District Manager (Funen/Jutland)
Permanent · AARHUS
ESTÉE LAUDER COMPANIES
Handelselev Med Speciale i Digital Handel - E-Commerce
Permanent · COPENHAGEN
ZIZZI
Online Buyer Til Fashion
Permanent · BILLUND
SAMSOE
Logistik Koordinator
Permanent · GLOSTRUP
ONLY
Business Controller
Permanent · BRANDE
ONLY
International Sales Manager
Permanent · BRANDE
JACK & JONES
Konstruktører, Jack & Jones og Jjxx
Permanent · BRANDE
BEST SELLER
Environmental Programme Coordinator
Permanent · KØBENHAVN K
BEST SELLER
Product Owner - Data-Driven Solutions & ai
Permanent · AARHUS
SELECTED FEMME/HOMME
Sales Representative
Permanent · BRANDE
L'OREAL GROUP
Key Account Relationship Specialist
Permanent · COPENHAGEN
SAMSOE
Business Controller (Sql And Data Analytics Specialist)
Permanent · COPENHAGEN
ACE & TATE
Optometrist Copenhagen i NY Østergade
Permanent · COPENHAGEN
VERO MODA
Business Controller
Permanent · AARHUS
VERO MODA
Buyer | Curve
Permanent · AARHUS
ONLY
Demand Planner
Permanent · BRANDE
L'OREAL GROUP
Supply Chain Graduate - l’Oréal Luxe Product Division - Copenhagen
Permanent · COPENHAGEN
KERING EYEWEAR
Kering Eyewear - Lindberg Junior Trade Marketing Manager
Permanent · AARHUS
ESPRIT
Area Manager Multilabel Nordic Women
Permanent · COPENHAGEN
ZIZZI
IT Operations Manager
Permanent · BILLUND
TJX EUROPE
Buying Coordinator
Permanent · COPENHAGEN
Published
Oct 15, 2018
Reading time
2 minutes
Download
Download the article
Print
Text size

Shoe Zone enjoys summer boost, sales and profits to rise

Published
Oct 15, 2018

With UK retailers that have large physical stores businesses currently issuing profit warnings at a rapid rate, it was encouraging to see one having good news on Monday. Value footwear retailer Shoe Zone issued an update ahead of its full-year results saying that trading in the 52 weeks to September 29 saw rising sales and will see higher profits.


Shoe Zone



Not that sales actually surged, but in the current environment, an increase of 1.8% to £161 million is definitely encouraging.

The company said that the improvement was due to “strong performance across the business, with both physical (‘big-box’ and traditional stores) and digital channels demonstrating growth allied with the completion of the loss-making store rationalisation programme.”

It now expects to report annual pre-tax profits ahead of market expectations with a figure somewhere above £11 million. “This improvement is driven by a stronger revenue and margin performance from the spring/summer ranges as well as benefiting from progress achieved through the further development of the group's foreign exchange hedging policy,” it said.

On the same day that Superdry issued a profit warning due to foreign exchange hedging issues and the very hot summer, it was clear that not every business in the UK got such a positive boost over the past few months.

But weather and currency issues are often beyond an individual company’s control and in many ways, selling seasons at the moment are something of a lottery.

The fact that Shoe Zone turned out to be a lottery winner this time boosted its share price on Monday pushing it over 12% higher in early trading.

Looking further at the details of its update, the company said that it “continues to demonstrate strong cash conversion and closed the year with an approximate net cash balance of £15.7 million,” which is almost £4 million higher than a year ago. That extra cash will be given back to shareholders in the form of a special dividend, another factor that helped the share price to rise.

CEO Nick Davis hailed the strong performance, particularly in the second-half, and said that the “strategy of growth through big-box expansion and online channels allied with excellence in the operations of the core Shoe Zone estate provides us with a clear path for the future.”

He also said that “the new financial year has started well and there are a further 14 big-box openings planned.”

Copyright © 2024 FashionNetwork.com All rights reserved.