Schuh celebrates profit rise as it expands its retail footprint

 
Helen Cahill
Follow Helen
The firm was bought by US retail giant Genesco six years ago (Source: schuh.co.uk)

Schuh celebrated a rise in profit last year as the shoe seller continued to expand its store portfolio.

The figures

For the year ended 28 January, Schuh's turnover grew five per cent, from £267m to £281m.

Read more: Schuh sells out to US retailer Genesco

The firm said this was due to its six new UK stores, and one new store in Germany. Schuh also refurbished five stores. Footfall increased by five per cent.

Profit after tax climbed from £10m to £13m, a rise of 15 per cent.

Why it's interesting

The Scotland-based shoe retailer said that in the year ahead it will be looking to grow its store estate across the UK and Europe, and that it will be investing in technology to improve online sales.

It currently operates 128 outlets in the UK, Ireland, and Germany, and has been expanding its Schuh kids stores. When the company was bought by US retailer Genesco in 2011 for £125m it had 59 stores.

Schuh said its increasing focus on children's footwear was improving both its profit and margins.

Related articles