Sterling woes hit Shoe Zone profits
The devaluation of sterling against the dollar is being blamed for a drop in profits at Leicester-based retailer Shoe Zone.
Profits at the firm for the six months to 1 April dropped from £1.7m in 2016 to £1.3m this year, while revenue also fell back to £72.9m from £74.6m last year. Shoe Zone said this was down to a "rationalisation of the retail store estate".
Nick Davis, chief executive of Shoe Zone, said: "I am pleased with the Group's performance in the first half as we continued to actively manage the retail estate while... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
