The figuresThe company’s profit before tax rose marginally to £1.02m in the half year ended 30 March, compared to £955m a year earlier.
Why it's interestingThe company, long a fixture on the British high street, saw its rent on renewals fall by 18.5 per cent in the first half, equivalent to a full year saving of £334,000. Digital sales increased by 4.9 per cent to £5m from £4.8m a year earlier as the store branched out from its bricks and mortar operations. Shoe Zone’s 26 spin-off Big Box stores generated £5.5m of revenue in the first half, a relatively small percentage of the total.
The company said it will be operating 33 Big Box stores at the end of May, and 45 by the end of 2019. Shoe Zone said it has a “positive outlook for the rest of the year,” largely due to its “refreshed digital strategy”.