UK-based shoe retailer ShoeZone reported sales of £ 122.6 million in the previous fiscal year and £ 162 million in 2019, which ended on October 2, 2021. It reported a reduction to £ 119.1 million. The first half was affected. However, the COVID pandemic allowed the company to trade over a major “Back to School” period, as all stores were open and fully traded as of the end of April 2021.
UK-based shoe retailer ShoeZone reported sales of £ 122.6 million in the previous fiscal year and £ 162 million in 2019, which ended on October 2, 2021. It reported a reduction to £ 119.1 million. The first half was affected. However, COVID reopened all stores in April 2021, allowing the company to trade for major “Back to School” periods.
“The shoe zone has survived a very difficult year with the COVID-19 pandemic. The negative impact of this is by reducing costs, continuing and accelerating investment in digital businesses, and improving operations. It has been significantly mitigated by taking swift action in the controllable area. As a result, we have emerged as a slimmer, stronger and more resilient business. ” Anthony Smith, CEO of Shoezone, Said in a press release.
UK retailers’ annual digital revenue increased 58.5% from 2008 to £ 30.6 million, or 25.7% of total revenue.
“These are a solid set of preliminary results, but with the ongoing impact of COVID as well as the challenges faced by global supply chains and inflationary pressures, the next 12 months are still uncertain. Container prices have risen at least five times a month, which will continue to affect for at least another six months until problems occurring throughout the supply chain return to more sensible levels, “says Smith. rice field.
According to Shoe Zone, the decision to invest in digital infrastructure and operations has given us the confidence to make this the core of our future business strategy, with a significant increase in online sales over the last 12 months. The company said it will continue to invest in its employees and shoe hub platform. In addition, we aim to increase our direct delivery partners, markets, exclusive products and brands, and will introduce additional payment and shipping options to enhance the customer experience.
Fiber2Fashion News Desk (JL)
UK shoe retailer ShoeZone will end FY21 due to lower sales.
Source link UK shoe retailer ShoeZone will end FY21 due to lower sales.