World Footwear

Companies

Schuh with 9% growth in profits

Jun 8, 2017 / United Kingdom
Schuh with 9% growth in profits
The Livingston-based company has revealed rising profits and sales while announcing full-year results. Schuh continues with its store expansion plan
Footwear retailer Schuh announced 16.5 million British pounds of pre-tax profits for the 52 weeks period ended on the 28th of January, resulting in a 9% increase, mainly boosted by margin improvements and currency translations. Turnover increased by 5% totaling 280.9 million British pounds.

The footwear retailer confirmed that the children’s shoes segment was a major focus during the year, with two of the new stores being standalone kids stores. The new stores feature freestanding kiosks and handheld payment machines rather than conventional cash desks.

Schuh opened seven new stores in the current year – six in the UK and one in Germany. With this new phase of the store expansion plan, the company now has a network of stores totaling 128 locations.

Turnover from the UK business rose by 3% reaching 251.5 million British pounds, while European sales increased by 29% totaling 29.3 million British pounds.

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